Livestock Budget 2019-2020
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
75
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
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
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
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
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 2,500
7,083
7,083
7,083
CullSales
OtherIncome Misc
12,000 33,399
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 32,449
1,000
1,000
1,000
12,000 33,399
SingleFarmPayment
950
TOTALFARMINGINCOME
172,399
1,000
1,000
1,000
11,133
10,483
10,583
10,583
8,083
40,533
8,083
34,483
35,433
172,399
EXPENDITURE
Opening Creditors
Closing Creditors
VariableCosts
Fertilisers
7,699
7,699
7,699
Sprays
500
500
500
Purchases
18,450
4,800
4,800
4,050
4,800
18,450
Feeds
13,511 7,500 9,750 2,500
2,535
3,147
1,272
1,272
660 625 813 208
660 625 813 208
660 625 813 208
660 625 813 208
660 625 813 208
660 625 813 208
660 625 813 208
660 625 813 208
13,511 7,500 9,750 2,500
Vet&Medical
625 813 208
625 813 208
625 813 208
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
5,000 5,000 7,600 24,405
Fuel&Oil
1,267
1,267 3,952
1,267
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
300 265 354
300 265 354
1,200 1,980 4,250 2,500 1,400 8,400 1,051 4,794 75
Office
115 354
115 354
115 354
115 354
115 354
115 354
115 354
115 354
General Insurance ProfessionalFees Miscellaneous
2,000
317
17
17
17
17
317
17
17
317
17
17
Rent
4,200
4,200
BankCharges Bank Interest
19
19
19
19
56
214 399
390 399
391 399
Loan&HP Interest
399
399
399
399
399
399
399
399
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
277 417 100
277 417 100
277 417 100
277 417 100
277 417 100
277 417 100
277 417 100
277 417 100
277 417 100
277 417 100
277 417 100
LoansRepaid
Pensions
LifeAssurance Class IVN.I.C. CouncilTax CashDrawn
240 240
20 20
20 20
20 20
20 20
20 20
20 20
20 20
20 20
20 20
20 20
20 20
20 20
240 240
1,500 12,000
125
125
125
125
125
125
125
125
125
125
125
125
1,500 12,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
ScheduleD/CorporationTax
2,000
1,000
1,000
2,000
NetCapital&PrivateMovements
-27,504
-1,959
-1,959
-1,959
-2,959
-1,959
-1,959
-1,959
-3,959
-1,959
-2,959
-1,959
-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
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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