FFIINANNANCCIALIAL S STTAATTEEMMEENNTTSS NOTES TO THE FINANCIAL STATEMENTS CONTINUED S 18 TRADE AND OTHER RECEIVABLES CONTINUED TR The carrying amount of trade and other receivables at 31 December, converted into sterling at the year-end exchange rates, are denominated in the A following currencies (excluding prepayments): TE G I C 2023 2022 R £m £m E Sterling 78.6 75.6 P O R Chinese renminbi 38.3 15.2 T Euro 87.9 50.8 US dollar 17.0 21.7 G Japanese yen 41.0 31.0 O Other 18.1 11.4 VE R 280.9 205.7 NAN C Wholesale finance facility E Sales to third-party Aston Martin franchised dealers are eligible, subject to individual dealer approved credit limits, to be financed through a wholesale finance facility. F I In the year ended 31 December 2022, the Group entered into a multi-currency wholesale finance facility with CA Auto Bank S.p.A. (“CAAB”) and its regional NAN designates. Under the facility, the Group finances dealer trade receivables with CAAB around the time a sale has been made under the Group’s revenue C recognition policy and receives consideration equal to the value of the trade receivable financed. The Group has the option to subvent the dealer financing IAL cost which provides the dealer network an interest-free period. The cost of this subvention is presented as a financing expense in the Consolidated Income S T Statement. The Group has considered the IFRS 9 criteria for asset derecognition in respect of the trade receivables financed through CAAB. The Group is A T satisfied that substantially all the risks are transferred to CAAB. As a result, the wholesale finance facility is off balance sheet. Due to this classification, E M financing costs of £2.5m (2022: £0.3m) associated with the scheme are presented in operating cash flows (note 28). As at 31 December 2023, £83.8m was E N financed under the facility (2022: £65.2m). T S The Group’s previous wholesale finance facility was with Velocitas Funding Designated Activity Company (“Velocitas”) a special purpose vehicle established for the purpose and financed by a panel of banks led by JPMorgan Chase Bank, N.A., London Branch. At 31 December 2022 the multi-currency facility was F closed to new financing, and wound down in the first half of 2023. The remaining senior loan of £0.1m and subordinated loan of £0.5m was received by the U R T Group in the year ended 31 December 2023. H E R INF OR M A T I ON ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 172