FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 14 PROPERTY, PLANT AND EQUIPMENT CONTINUED TR Property, plant and equipment provides security for a fixed and floating charge in favour of the Aston Martin Lagonda Limited pension scheme. A TE Assets in the course of construction at a cost of £37.4m (2022: £32.9m) are not depreciated until available for use and are included within tooling, plant and G I C machinery. The gross value of freehold land and buildings includes freehold land of £6.1m (2022: £6.1m) which is not depreciated. Capital commitments R are disclosed in note 30. E P O The tables below analyse the net book value of the Group’s property, plant and equipment by geographical location. R T United Kingdom Rest of Europe The Americas Asia Pacific Total At 31 December 2023 £m £m £m £m £m Freehold land and buildings 38.7 1.9 5.7 – 46.3 G O Tooling 83.7 73.7 0.9 0.3 158.6 VE Plant, machinery, fixtures and fittings, and motor vehicles 146.6 2.0 0.2 – 148.8 R 269.0 77.6 6.8 0.3 353.7 NAN C United Kingdom Rest of Europe The Americas Asia Pacific Total E At 31 December 2022 £m £m £m £m £m F Freehold land and buildings 36.6 1.8 2.9 – 41.3 I NAN Tooling 120.3 61.8 1.1 – 183.2 Plant, machinery, fixtures and fittings, and motor vehicles 144.7 0.7 – – 145.4 C IAL 301.6 64.3 4.0 – 369.9 S T A 15 INVESTMENTS IN EQUITY INTERESTS T E On 15 November 2023, the Group subscribed for shares in AMR GP Holdings Limited by exercising its primary warrant option and subscribing for reward M E shares it was entitled to under the initial sponsorship term. The primary warrant became exercisable following the Group entering an agreement with AMR N T GP for a second sponsorship term running from 2026 to 2030. S At the point of subscription, a valuation exercise was undertaken to determine the fair value of the derivatives with a gain being recognised in the F Consolidated Income Statement (see note 20). As the subscription was sufficiently close to the year-end date, and no material changes have occurred in U R underlying business, the same valuation was used to determine the fair value as at 31 December 2023. The fair value of the warrant equity option and T H reward shares was established by applying the proportion of equity represented by the derivatives to an assessment of the equity value of AMR GP Limited, E R which is then adjusted to reflect marketability and control commensurate with the size of the investment. INF The Group has made the election to carry the investment at fair value through other comprehensive income and will continue to fair value the investment in OR line with the requirements of IFRS 9 at future balance sheet dates. This election was made to reduce volatility due to movements in fair value within the M Consolidated Income Statement. A T I ON 2023 2022 £m £m Investments As at 1 January – – Additions 18.2 – As at 31 December 18.2 – ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 168