e Profit Monitor Notes on Drystock Input Sheets Version 1.0

Transcription

1 e Profit Monitor Notes on Drystock Input Sheets Version 1.0

2 Farm Details Year End Date Enter the year end date for the year in question e.g. 31/12/2003 for the year 2003 Registered for VAT Enter Yes or No Majority of drystock farms are not registered for Vat. Production Type This section must be completed. Enter the number of units for the relevant system / systems - Cattle 1 Calf to store rearing own or purchased dairy beef calves to sell as stores 2 Calf to beef - rearing own or purchased dairy beef calves to sell as beef 3 Store to beef 4 Store to store 5 Weanling to beef purchase of dairy or suckled weanlings to feed to beef 6 Suckling to beef number of suckler cows with progeny finished to beef 7 Suckling to store number of suckler cows with progeny sold as stores 8 Suckling to weanling - number of suckler cows with progeny sold as weanlings - Sheep Enter number of ewes for the relevant system Early / Mid-season or Mountain For farms purchasing store lambs for finishing enter number purchased in box 4. Land Details Enter adjusted hectares of land farmed. Exclude any area under yards, roadways etc. Divide the land area into area owned and leased and also into forage and tillage areas. Leased land includes land taken on a short-term basis (conacre, short-term grazing) and long-term leases.the total cost of all leased land should be entered (divided between forage and tillage land as appropriate). The white boxes must be filled; there is an optional enterprise breakdown between cattle & sheep. If these boxes are not filled, the computer programme will allocate the land area to each enterprise on a livestock unit basis. The forage area must be divided into the area under grass, maize, whole crop and forage root crops (e.g. fodder beet). Maize, whole crop and forage root crops (e.g. fodder beet) are treated as forage crops and therefore any costs associated with growing these crops must be included with the normal grassland costs. The tillage area must be divided into the area under cereals, sugar beet, potatoes and forage crops for sale (e.g. fodder or sugar beet grown for sale, whole crop wheat grown for sale). Quota Details Enter number of owned units of suckler & ewe quota Enter number of leased units of suckler & ewe quota and the total cost of leasing Paid Labour / Unpaid Labour Enter the number of labour units on the farm in each category (on average over the year). For example, a full-time workman can be entered as 1 labour unit of paid labour and the farmer is 1 labour unit of unpaid labour.

3 Ewes to the Ram Enter the number of mature ewes & number of ewe lambs put to the ram in separate boxes. Sales and Premia Premia & Direct Payments Premia should be allocated by enterprise Cattle - enter the total of all cattle premia claimed in the year under analysis.the actual numbers of animals applied on under the various premia multiplied by the payment rate for that year should be used to arrive at total premia use the premia checker to arrive at separate total for cattle,sheep & tillage. REPS - Include here the REPS payment for the year in question plus the Area Based Compensatory Payments.They will be broken down by epm on the basis of the area devoted to cattle,sheep & tillage. Livestock Transfers Enter the number of replacement heifers and/or the number of hoggets kept as ewes in the year. Tillage Sales Enter the total value of all tillage crops sold off the farm during the year. Include a value for crops still in the ground,base on inputs to year end. Livestock Opening,Closing & Average details You must enter opening and closing numbers,value per head and estimated liveweight kg in the categories as shown on input sheet.the average number for the year can be arrived at following completion of monthly livestock table if opening & closing numbers are entered plus numbers for at least three other periods during the year in the monthly livestock table this will give an average.it is important to have an accurate assessment on average numbers as this will determine overall stocking rate & will also be used to allocate area to cattle & sheep on the basis of livestock units. Livestock Sales & Purchase details You must also enter the number,value & liveweight kg of livestock sales and purchases under the categories shown. For slaughtered animals with deadweight only, the estimated sale can be derived from the carcass weight using the following assumed KO% - cull suckler cows 52%;suckler bullock progeny 55%;Fr/Hol bullocks 51%;suckler bull progeny 57%;dairy bulls 54%;heifers 1 2% below bullocks. Sales value / purchase cost should represent the total value / cost of the animals sold or purchased transport & marketing costs should be included with Levies & Transport under variable costs.

4 Variable Costs Purchased Feed Allocate purchased feed between cattle & sheep. Super-pressed pulp & brewer s grains are concentrate replacements and should be included here. Home Grown Concentrates Allocate total value of all home grown concentrates used by cattle and sheep during the year. Include here home grown rolled cereals, crimped cereals, peas etc.value home grown market harvest time. Do not include a value for silage, maize silage, whole crop cereals in this box. Purchased Forage Allocate total cost of purchased silage, hay, maize silage, whole crop cereal or fodder beet etc, between cattle & sheep. Farm Fertiliser & Lime - Stock Enter the total value of all N, P, K fertilizer used on the farm during the year on all forage areas this includes fertiliser used on arable silage, maize, whole crop cereals, fodder beet grown for use on the farm. There is an option to divide the fertiliser bill between cattle & sheep but it is probably better to enter the fertiliser bill for the livestock as a total figure for the farm & let epm allocate on basis of livestock units. Enter lime for livestock crops as for fertilizer. Farm Fertiliser & Lime - Crops Enter the total value of all N, P, K fertiliser used on the farm during the year for tillage crops ie tillage crops with production sold or fed to livestock on the farm. Enter lime for tillage crops as for fertilizer. Farm Veterinary Enter the total value of the veterinary bill for the farm. Include monies given to local veterinary surgeon as well as monies spent on dosing products, vaccines etc at local coop or Agri-Store. Dry cow minerals should be included here (as should any powdered minerals). Also include here the cost of hoof paring, annual TB and Brucellosis test. It may be possible to allocate veterinary costs between cattle & sheep or alternatively a total farm figure will be allocated by epm on a livestock unit basis.

5 AI / Breeding Enter the total value of the AI bill for sucklers to cattle. The cost of scanning and any fertility treatments used on the farm should be included here (and not under veterinary). Also include the cost of a vasectomy treatment (if appropriate). Farm Contractor Costs Enter to total value of the contractor bill for the farm the bill must be divided between stock and tillage.there is an option to breakdown the contractot bill for livestock between silage cutting,slurry spreading,hay making etc.contractor costs will be allocated by epm between cattle & sheep on a livestock unit basis if the optional enterprise breakdown is not completed. Seeds & Sprays Allocate between livestock crops & tillage crops.epm will allocate between cattle & sheep on a livestock unit basis. Silage Additive & Polythene Enter total for farm or allocate between cattle & sheep. Levies & Transport Allocate between livestock & crops & allocate livestock between cattle & sheep. Straw Include straw purchased for feeding or bedding.allocate between cattle & sheep or epm will do it on a LU basis. Sundry Variable Costs Include variable cost items not already captured! Some examples might include cattle & sheep tags,freeze branding,registration charges for pedigree animals,pest control charges,knackery charges etc

6 Fixed Costs All fixed costs will be allocated between livestock & tillage by epm on basis of gross output unless the optional enterprise breakdown is completed.you may choose to allocate none,some or all of the fixed cost items. Hired Labour Enter the total cost of the labour bill on the farm for the year & this will include cash paid to employee,tax & PRSI paid on behalf of employee & employers public liability insurance ; allocate between cattle,sheep and tillage or epm will allocate on basis of gross output. Include here the cost of permanent labour, part-time and casual labour. Include monies paid to Farm Relief Service (apart from that paid for hoof-paring which should be allocated to Veterinary). Where family labour is paid i.e. son or daughter, include money paid to cover the time spent at farm work. Farm Machinery Costs Divided into running costs and lease costs. Farms with a jeep in addition to a car should include all jeep costs under machinery where the jeep is the only motor vehicle on the farm include its costs under Car making an appropriate reduction for non farm travel. Enter the total value of the machinery running costs on the farm for the year include fuel, repairs, tax and insurance costs. Any lease payments paid during the year should be entered under Machinery Leases. Loan repayments made on machinery should not be included under Machinery Leases. Farm Interest Payments Divided into overdraft / merchant credit interest and loan interest. Overdraft & merchant credit interest is generally a more expensive form of credit than stocking loans or term loans & will be more visible when separated.bank charges & current account fees should be included with overdraft & merchant credit interest. Loan interest include interest on stocking loans & term loans. Car, ESB & Phone Divided into car, ESB, phone. Use the farm share of these three items i.e. generally 66% for full time farms & from 25% for part time farms. % of total miles in the year for farm related business is the basis for deciding farm share. Car - includes tax, insurance, running costs, repairs and leases (if any). If there is a jeep (or specific farm van) on the farm, you can include 100% of all jeep/van costs with machinery and include only a small portion (10 20%) the costs associated with the private car under farm share.include farm share of depreciation of car with car expenses. ESB include farm share of ESB bill for the year (generally 25 75% depending on farm size). Phone include farm share ( 25 75%) & don t forget to include mobile phone bill.

7 Depreciation Divided into depreciation on buildings and depreciation on machinery.include depreciation on land reclaimation with buildings. The rates normally used for management purposes should be used : Power Machinery 25% - declining balance Other Machinery 12.5% - declining balance Motor Vehicles(jeeps/vans) 20% - declining balance ( farm share) Land Reclamation 10% - Straight line Farm Buildings 10% - Straight line Depreciation should be calculated on net cost ie total cost less grant & vat refund. Where accounts are available then can use the depreciation amounts shown on the profit & loss account.can use current years accounts if available or alternatively use depreciation from previous years accounts which should always be available. Repairs and Maintenance Include the total cost of any maintenance carried out on the farm during the year. If the expenditure is large on a single item & if VAT has been reclaimed on the expenditure, then it should be entered as a capital expenditure on buildings in the Balance Sheet rather than a current expense in this section. Insurance Enter the cost of farm insurance here. Car insurance should be entered under Car while machinery insurance should be entered under Machinery running costs.this represents insurance costs on livestock,farm buildings,public liability & the private farm dwelling.generally 90% of the total premium for the above is allowed as a farm expense with 10% disallowed as non farm share for private dwelling. Professional Fees For example, accountancy fees, Teagasc or consultancy fees. Sundry Fixed Costs Water charges & other sundry items not already captured. Balance Sheet Assessing net worth change over the year will depend on the accuracy of the data entered here this is simply trying to give a financial picture of the overall financial position at both the start & end of the year to see if it has improved or disimproved. You must include details of assets and liabilities at both the start and end of the year as well as the amount invested under the various asset headings during the year. If you completed an e Profit Monitor for the previous year, the opening balances should equal the closing balances from last year. Alternatively, if your farm accounts are prepared for the same period as your Profit Monitor analysis, the opening balances can be taken from the farm accounts.

8 Assets Include land, quota, buildings, machinery (including car, jeep), dwelling house, investments, pension, debtors and cash on hand. Standard values are suggested for land and quota (see below). The depreciation figure is as per the Fixed Costs. Liabilities Include all loans (farm and non-farm) as well as merchant credit and bank overdraft. Enter the figure for both the start and the end of the year. Debtors and Cash on Hands Include any positive bank account balances as well as money owed to you (debtors). Enter the figure for both the start and the end of the year. The main debtors on most cattle & sheep farms will be the Department of Agriculture for outstanding premia due. New Capital Investments Include any capital investments made on the farm during the year. Standard Values The following are the standard values to be used for the completion of 2003 e Profit Monitors (Drystock) Suckler Cows 700 Stock Bull ( at cost or use suggested 1000 figure) Cattle Cattle Cattle Ewes 60 Rams 80 Stores / Hoggetts 40 Asset value - land Asset value Suckler quota Asset value Ewe quota 12,000 per hectare 500 per unit 1 per unit