FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS CONTINUED S Prior year restatement TR Following a review by the Financial Reporting Council (“FRC”), the Company revisited its assumptions used in determining the recoverability of the carrying A value of the investment in subsidiaries. The original assessment had not considered the recoverability of the intercompany balances within the Company TE G I prior to assessing the recoverability of the investment valuation. When updating for this assumption, the net recoverable value of the investment is reduced C from £957.4m to £497.3m at 31 December 2022. The impairment of £460.1m is reflected in the Parent Company Income Statement for the prior year. R E P O As part of the same review it was identified the intercompany receivable was presented as current, however, the Company did not expect to receive R repayment within 12 months from the balance sheet date. The intercompany receivable balance has therefore been restated as a non-current asset in the T prior year Company Balance Sheet. In addition, the Expected Credit Loss provision recognised against the intercompany receivable is deemed not required. This is due to the balance being intercompany in nature and the parent company can allow the benefit of time to its subsidiary in order to recover the G receivable in full from the future cashflows of the subsidiary. As there is no anticipated shortfall in repayment of the receivable over time, no expected O credit loss provision is required. An opening reserves adjustment of £36.0m is made to reflect removing the provision as at 1 January 2022. A £11.2m charge VE R is reflected in the Income Statement for the year ended 31 December 2022, reflecting the movement in the provision previously recognised between NAN 1 January 2022 and 31 December 2022. C The restatements noted above have no impact on the previous, current or future results of the Group. The FRC’s review does not benefit from detailed E knowledge of our business or an understanding of the underlying transactions entered into and therefore provides no assurance that the Annual Report F is correct in all material aspects. I NAN C IAL As previously reported Adjustment Restated balance S 31 December 2022 31 December 2022 T Liabilities £m £m £m A T E M Non-current assets E N Investments 957.4 (460.1) 497.3 T Debtors: amounts falling due in more than one year – 1,382.1 1,382.1 S F Current assets U R Debtors: amounts falling due within one year 1,357.6 (1,357.3) 0.3 T H E R INF Capital and reserves OR Retained Earnings 179.0 (435.3) (256.3) M A The loss on ordinary activities after taxation amounts to £454.1m (previously reported profit of £17.2m). T I ON As previously reported 1 Adjustment Restated balance January 2022 1 January 2022 Liabilities £m £m £m Non-current assets Debtors: amounts falling due in more than one year – 749.7 749.7 Current assets Debtors: amounts falling due within one year 713.7 (713.7) – Capital and reserves Retained Earnings 161.8 36.0 197.8 The profit on ordinary activities after taxation amounts to £70.9m (previously reported profit of £34.9m). 2 DIRECTORS’ REMUNERATION The Company has no employees other than the Directors. Full details of the Directors’ remuneration is given in the Directors’ Remuneration Report. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 204