Table B5 Average opening and closing balance sheets by tenure and type of farm 1996


Table B5 Average opening and closing balance sheets by tenure and type of farm 1996-97: owner occupied and tenanted							£ per farm
Type of farm	LFA: Specialist sheep		LFA: Specialist beef		LFA: Cattle and sheep		Lowground cattle and sheep
Number of farms in sample	47		72		70		6
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets
Land and buildings etc (1)	80,417	91,491	111,270	114,949	156,626	159,170	99,686	95,843
Other fixed assets (2)	43,194	45,180	71,452	71,065	88,080	89,464	32,310	37,651
Current assets (3)	55,065	59,526	68,276	71,449	92,371	93,834	65,827	49,082
Total assets	178,676	196,197	250,998	257,463	337,078	342,468	197,823	182,576

Liabilities
Bank loans	737	651	5,010	5,098	5,262	5,644	0	0
Other long and medium term loans (4)	5,846	8,527	5,968	5,931	8,658	8,323	11,007	10,868
Bank overdraft	9,090	8,943	22,554	21,113	31,419	25,762	60,377	56,357
Other short term loans (5)	4,711	5,516	8,467	8,612	10,646	12,345	14,813	9,451
Total external liabilities	20,384	23,637	42,000	40,754	55,985	52,074	86,197	76,676
(of which total bank borrowing)	9,827	9,594	27,564	26,211	36,681	31,406	60,377	56,357

Net worth	158,292	172,560	208,999	216,709	281,093	290,394	111,626	105,900

Total external liabilities as
a percentage of total assets	11	12	17	16	17	15	44	42


Type of farm	Cereals		General cropping		Dairy		Mixed
Number of farms in sample	19		33		61		55
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets
Land and buildings etc (1)	227,396	257,163	370,527	410,590	216,467	235,512	227,335	226,959
Other fixed assets	44,391	49,366	84,511	91,980	114,496	112,632	67,804	69,329
Current assets (3)	70,079	73,896	121,125	108,560	304,429	275,427	94,281	99,595
Total assets	341,866	380,425	576,163	611,130	635,392	623,571	389,420	395,883

Liabilities
Bank loans	2,758	26,536	8,255	11,589	8,298	12,365	5,984	5,399
Other long and medium term loans (4)	8,887	8,209	5,784	5,789	6,507	7,538	12,982	12,244
Bank overdraft	32,392	29,084	24,010	16,822	33,197	35,815	33,970	31,977
Other short term loans (5)	20,083	23,686	23,830	26,616	22,028	22,065	11,895	13,698
Total external liabilities	64,120	87,515	61,878	60,815	70,029	77,783	64,831	63,319
(of which total bank borrowing)	35,150	55,620	32,265	28,410	41,494	48,180	39,953	37,376

Net worth	277,745	292,910	514,285	550,315	565,363	545,787	324,589	332,565

Total external liabilities as
a percentage of total assets	19	23	11	10	11	12	17	16

(1) Land and buildings, improvements and fixed equipment. (2) Machinery, equipment and vehicles, and breeding livestock. (3) Physical working assets such as trading livestock, harvested and growing crops, purchased stores and liquid assets such as sundry debtors. (4) Loans by the Scottish Agricultural Securities Corporation, insurance companies and building societies and also family loans. (5) Outstanding capital debt for machinery and equipment being acquired under hire purchase or finance leasing arrangements, and also sundry creditors and receipts in advance.