FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S PRIOR YEAR RESTATEMENT TR The Consolidated Statement of Financial Position as at 1 January 2022 and 31 December 2022 has been restated to reflect a prior period adjustment in A respect of the deferral of tax relief income received under the Research and Development Expenditure Credit (‘RDEC’) regime. The Group previously TE G I recognised the income within Administrative and other operating expenses in the Consolidated Income Statement, in the period in which the qualifying C expenditure giving rise to the RDEC claim was incurred. The Group has reassessed the treatment under IAS 20 in respect of income from RDEC claims where R E the qualifying expenditure has been capitalised. For these capitalised expenses, the RDEC income earned has been deferred to the Consolidated Statement P O of Financial Position and will be released to the Consolidated Income Statement over the same period as the amortisation of the costs capitalised to which R the RDEC income relates. Where the qualifying expenditure is not capitalised, the RDEC income will continue to be recognised in the Consolidated Income T Statement in the year the expenditure is incurred, as has previously been the approach. G The impact of this adjustment is that as at 1 January 2022 and 31 December 2022, £49.0m of deferred income has been recognised on the balance sheet O split between current £14.9m and non-current £34.1m Trade and Other Payables with a corresponding adjustment to retained earnings. There is no VE R adjustment to the Consolidated Income Statement for the year ended 31 December 2022 as the impact of the adjustment is not material to that individual NAN year. There is no change to the Consolidated Statement of Cash Flows as, whilst the accounting impact of the claim is deferred, there is no change to the C timing of the cash receipt. No change in the corporation tax position is recognised for the year ended 31 December 2022 in either the Consolidated Income E Statement or Consolidated Statement of Financial Position, as the recoverability assessment of the Group’s deferred tax position has not been materially changed by this restatement. As there is no adjustment to the Consolidated Income Statement and no change in the income tax position, there is no impact F on earnings per share. I NAN Where the notes included in these Consolidated Financial Statements provide additional analysis in respect of amounts impacted by the above restatement, C the comparative values presented have been re-analysed on a consistent basis. The following tables detail the impact on the Consolidated Statement of IAL Financial Position as at 31 December 2022 and 2021, respectively. S T A T As previously reported Adjustment Restated balance E 31 December 2022 31 December 2022 M E Liabilities £m £m £m N T S Non-current liabilities Trade and other payables 9.1 34.1 43.2 F U R Current liabilities T H E Trade and other payables 876.3 14.9 891.2 R INF Capital and reserves OR Retained Earnings (1,184.9) (49.0) (1,233.9) M A T I ON As previously reported Adjustment Restated balance 1 January 2022 1 January 2022 Liabilities £m £m £m Non-current liabilities Trade and other payables 9.8 34.1 43.9 Current liabilities Trade and other payables 721.0 14.9 735.9 Capital and reserves Retained Earnings (662.4) (49.0) (711.4) ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 156