This was given in a House of Lords Written Answer on 12.3.01
�Lord Whitty (Parliamentary Under-Secretary, Department of the Environment, Transport and the Regions) Hansard source
The Road Vehicles (Construction and Use) Regulations 1986, as amended, allows the use of speedometers that meet the requirements of EC Community Directive 75/443(97/39) or ECE Regulation 39. Both the EC Directive and the ECE Regulation lay down accuracy requirements to be applied at the time of vehicle approval for speedometers. These requirements are that the indicated speed must not be more than 10 per cent of the true speed plus 4 km/h. In production, however, a slightly different tolerance of 5 per cent plus 10 km/h is applied. The requirements are also that the indicated speed must never be less than the true speed.
A vehicle meeting these requirements would not be able to travel at a greater speed than that shown on the speedometer and a driver could not, therefore, inadvertently exceed speed restrictions.�
So, using the speed shown by the satnav-
23 mph converts to 37.01 k/h.
Adding 5% gives 38.86 k/h
Add 10 k/h gives 48.86 k/h which is 30.37 mph
I hope that helps