Chalk Hill Farm: Account Preparation and Analysis

Chalk Hill Farm: Account Preparation and Analysis

School of Agriculture, Policy and Development AP3A82/APMA101 Business Planning and Control Chalk Hill Farm: Account Preparation and Analysis The Assignment Chalk Hill Farm is a 195 hectare mixed farm located in the Chiltern Hills of Buckinghamshire. It is an owner occupied farm under the sole ownership of Mr Dan Lydiate. He runs a small Hereford cross suckler beef herd, and a flock of Lleyn sheep which he crosses with Texel tups. Mr Lydiate also has 45 hectares of cereal production growing wheat and barley. He sells his calves at weaning as stores but finishes the lambs after selecting out replacement ewe lambs. Mr Lydiate has asked for your assistance in the preparation of his accounts.

Please provide the following (marks in brackets): 1. A set accounts for the financial year ending 31st March 2018. He requires a monthly cash flow statement (20%), a complete set of enterprise gross margins (15%), a profit/loss account (15%), and a balance sheet (15%). 2. An analysis of his current situation (a report of maximum 1,000 words), paying particular attention to the contribution of the different enterprises to the farm business, his cash flow, profit/loss, and balance sheet (35%).

The Data: Financial year end 31st March 2018 Mr Lydiate has supplied the following information on the farms physical and financial performance over the past year to help you with the completion of the accounts. Land area Total Area 195 ha Winter Wheat 30 ha Winter Barley 15 ha Permanent pasture 150 ha Valuations at start of financial year • Land value 195ha @ £18,864/ha = £3,678,480 • Building and Fixtures WDV = £115,500 (4% Straight line depreciation) • Machinery WDV = £135,100 (15% Diminishing balance depreciation) Livestock Opening Valuation Closing Valuation No. Total Value £ No. Total Value £ Cows 45 41,850 45 41,175 Bulls 2 3,600 2 3,400 Calves 42 5,460 40 4,800 Ewes 500 42,500 495 42,075 Rams 15 4,230 15 4,670 Ewe Lambs 130 12,350 115 10,925 Other stock Opening Valuation Closing Valuation Quantity Total Value £ Quantity Total Value £ Wheat 50 t 6,750 60 t 8,640 Silage 15 t 375 10 t 250 Wheat Straw 30 t 1,350 30 t 2,250 Fuel 300 l 150 250 l 125 Concentrates 50% cattle 50% sheep 1.5 t 300 1.5 t 390 Cattle data • Stocking rate ~1 cow per ha, use one third of permanent pasture • Early spring calving, February to March: 20 heifers, 22 steers • Calves reared per cow 0.9 • Calves sold at weaning, nine months old, between November and December • Calves sold before housing

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