Livestock Budget 2019-2020

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LIVESTOCK BUDGET 1STAPRIL 2019 – 31STMARCH2020 BROWNS FARM

LIVESTOCK BUDGET 1ST APRIL 2019 – 1ST MARCH 2020

This budget is based on a fictional mixd beef and sheep farm.

Current Farming Position • 100 suckler cows – selling calves at 12months of age • 500 sheep flock with lambs sold throughout the year

• All forage work undertaken by contractors • Farm is in a Countryside Stewardship scheme • Diversified income from a B&B/holiday let budgeted at £12,000 per annum • Part time labour • A farm loan of £150,000

BROWN&CO | LIVESTOCK BUDGET

NET FARM INCOME FOR THE 2019 YEAR

Livestock

Head Acres

£ / Hd

Budget Total

Beef Suckler Herd

100 200.00 500 150.00

124.30 61.61

12,430 30,805

Sheep

43,235

Livestock Margins

350.00

Enterprise Gross Margin

43,235

Rent Received Contract Entry/Higher Level Stewardship Single Farm Payment Miscellaneous Income

1,900 31,499 12,000

45,399

Total Farm Gross Margin

88,634

Less Fixed Costs : Property Costs

£\Acre 12.86 14.29 98.43 28.94

4,500 5,000 34,450 10,130

Labour Machinery

General Overheads

54,080

Sub Total

154.51

Pre Rent & Finance Surplus

34,554

Rent

24.00 16.91

8,400 5,920

Finance

14,320

Sub Total

40.91

Total Net Farm Income

20,234

Before : Drawings, Pensions, PAYE.etc..

-15,180 -2,000 -3,324 -7,000

Taxation

Machinery Lease/HP

Capital Expenses ( Mach purchase/Loan rpmt)

Less Capital Receipts

-27,504

BROWN&CO | LIVESTOCK BUDGET

FIXED COST BUDGET (SUMMARY SCHEDULE) 350 ACRES

Budget £/Total

£ / Per Acre

% Turnover

Property Costs Water & Drainage General Repairs

2,000 2,500

5.71 7.14

4,500

12.86

2.61%

Labour Casual Labour

5,000

14.29

5,000

14.29

2.90%

Machinery Machinery Costs Depreciation

5,000 20,400 7,600 250 1,200

14.29 58.29 21.71 0.71 3.43

Fuel & Oil

Contract & Hire

Electricity

34,450

98.43

19.95%

General Overheads Office General Insurance Professional Fees Miscellaneous

1,980 4,250 2,500 1,400

5.66 12.14 7.14 4.00

10,130

28.94

5.87%

Rent & Financing Costs Rent Current Account Interest Other Loan Interest Bank Charges

8,400

24.00 0.21 3.00 13.70

1,051 4,794

14,320

40.91

8.29%

TOTAL FIXED COSTS

68,400 195.43

39.61%

BROWN&CO | LIVESTOCK BUDGET

PROFIT & LOSS ACCOUNT FOR THE FINANCIAL YEAR 1ST APRIL 2019 – 1ST MARCH 2020

Closing Valuation at 31st March 2020

171,800

Of gross Turnover

Sheep

64,400 9,800

Cull Sales

127,000

Less: Opening Valuation at 1st April 2019

(171,500) 127,300

Add: Other Operating Income Misc Single Farm Payment

12,000 33,399

45,399

Gross Output

172,699

Less Variable Costs Fertilisers

7,699 500 24,155 18,450 16,011 7,500 9,750

Sprays

Contract & Haulage

Purchases

Feeds

Vet & Medical

Sundry

84,065 88,634

49% 51%

Farm Gross Margin

Less: Fixed Costs Property Costs

4,500 5,000 34,450 10,130 14,320

3% 3%

Labour Machinery

20% 6% 8% 40%

General Overheads Rent & Financing Costs

68,400

PROFIT/(LOSS) FOR THE YEAR BEFORE DRAWINGS 20,234 12%

BROWN&CO | LIVESTOCK BUDGET

SOURCE & APPLICATION OF FUNDS 1ST APRIL 2019 – 1ST MARCH 2020

Source

Budget

Application

Budget

Trading

Profit

20,234

Loss

Decrease in Valuation Decrease in Debtors Increase in Creditors Depr of Machinery Depr of Improvements

Increase in Valuation Increase in Debtors Decrease in Creditors

300

20,400

Capital

Machinery Lease/HP Machinery Purchases

3,324 2,000

Machinery Sales Improvement Grants Disposal of Land & Buildings

Improvements

Land & Buildings Mortgage & Loan repayments

New Loans

5,000

New HP Introductions

Private

Private Receipts

Partners Drawings Life Assurance

15,740

240

Pensions Taxation

1,200

Sub - Total

27,804

Balance

Cash\Bank Decrease Cash\Bank Increase

12,830

Total

40,634

Total

40,634

BROWN&CO | LIVESTOCK BUDGET

FORECAST CASHFLOW 1ST APRIL 2019 – 1ST MARCH 2020

12Mth Total 52,800 64,400 9,800

Opening Debtors

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Closing Adj12Mth Debtors Total

INCOME

Livestock BeefSucklerHerd

26,400 7,083

52,800 64,400 9,800

Sheep

7,733 2,400

7,083 2,400

7,083 2,500

7,083

CullSales

OtherIncome Misc

12,000 33,399

1,000

1,000 32,449

1,000

12,000 33,399

SingleFarmPayment

950

TOTALFARMINGINCOME

172,399

1,000

11,133

10,483

10,583

8,083

40,533

8,083

34,483

35,433

172,399

EXPENDITURE

Opening Creditors

Closing Creditors

VariableCosts

Fertilisers

7,699

Sprays

500

Purchases

18,450

4,800

4,050

4,800

18,450

Feeds

13,511 7,500 9,750 2,500

2,535

3,147

1,272

660 625 813 208

13,511 7,500 9,750 2,500

Vet&Medical

625 813 208

Sundry Straights

FixedCosts Water&Drainage GeneralRepairs CasualLabour MachineryCosts

2,000 2,500

167 208 417 417 217

167 208 417 417 417

167 208 417 417

167 208 417 417 217 300 265 354 500 317

167 208 417 417 417

167 208 417 417

167 208 417 417 217

167 208 417 417 417

167 208 417 417

167 208 417 417 217

167 208 417 417 417

167 208 417 417

2,000 2,500

5,000 5,000 7,600 24,405

Fuel&Oil

1,267

1,267 3,952

1,267

Contract&Hire

8,202

10,402

1,850

TotalElectricity

1,200 1,980 4,250 2,500 1,400 8,400 1,051 4,794 75

300 265 354

1,200 1,980 4,250 2,500 1,400 8,400 1,051 4,794 75

Office

115 354

General Insurance ProfessionalFees Miscellaneous

2,000

317

Rent

4,200

BankCharges Bank Interest

214 399

390 399

391 399

Loan&HP Interest

399

TOTALOPERATINGCOSTS Cap&PivRecipts Cap&PrivExpenditure MachineryBought MachineryLease/HP

132,065

12,098

14,122

13,978

15,394

19,437

13,668

12,406

4,835

5,667

5,758

9,035

5,667

132,065

2,000 3,324 5,000 1,200

2,000

2,000 3,324 5,000 1,200

277 417 100

LoansRepaid

Pensions

LifeAssurance Class IVN.I.C. CouncilTax CashDrawn

240 240

20 20

240 240

1,500 12,000

125

1,500 12,000

1,000

ScheduleD/CorporationTax

2,000

1,000

2,000

NetCapital&PrivateMovements

-27,504

-1,959

-2,959

-1,959

-3,959

-1,959

-2,959

-1,959

MONTHLYCASHFLOW OpeningBalances

12,830

-13,056 -15,081 -14,936 -7,220

-10,912 -5,044

-3,781

-711

32,907

-633

23,489

27,808

CurrentAccBalance DepositAccBalance

-10,000

BankBalance

-10,000

-23,056 -38,137 -53,074 -60,294 -71,206 -76,249 -80,031 -80,741 -47,834 -48,467 -24,978 2,830

BalanceAtYearEnd

2,830

YOUR REGIONAL CONTACT

James Brown Agricultural Business Consultant 01295 220222 james.brown@brown-co.com West Midlands, The South West, Wales & NI

Northern England Phil Dunn

Agricultural Business Consultant 01652 654833 philip.dunn@brown-co.com Rob Meadley Agricultural Business Consultant 01652 654833 rob.meadley@brown-co.com

Richard Levin Agricultural Business Consultant 01284 725715 richard.levin@brown-co.com

East of England & South East

East Midlands

Charles Whitaker Agricultural Business Consultant 01603 629871 caw@brown-co.com Rob Hughes Agricultural Business Consultant 01553 770771 rob.hughes@brown-co.com Andrew Fundell Agricultural Business Consultant 01603 629871 andrew.fundell@brown-co.com Simon Wearmouth Agricultural Business Consultant 01603 629871simon.wearmouth@ brown-co.com Peter Cox Agricultural Business Consultant 01284 725715 peter.cox@brown-co.com

Paul Waberski Agricultural Business Consultant 01664 502120 paul.waberski@brown-co.com Paul White Agricultural Business Consultant 01476 591991 paul.white@brown-co.com

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