goodweave@
GOODWEAVE UK
(A company limited by guarantee)
REPORT & FINANCIAL sfATEMENTS
For the Year Ended 31st December 2024
Charity Registration No: 1139218
Company Registration No: 4210546 (England & Wales)

GOODWEAVE UK
(A Company Limited by Guarantee)
THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31sr DECEMBER 2024
CONTENTS
PAGE
Legal and Administrative Infonnation
Report of Directors
Independent Examinerfs Report
ststement of Financial Activities
Balan￿ Sheet
10
Statement of Cash Flows
11
Notes forming part of the Financial Slatements
12-15
P￿C20f15
Financial sthtCm￿ts 2024
GC)ODWEAVE UK

GOODWEAVE UK
(A Company Limited by Guarantee)
The trustees of the charity present their report and financial statements for the year ended 31st
December 2024.
The accounts have been prepared in accordan￿ with the accounting policies set out in Note I to
the accounts and comply with the companWs Memorandum and Articles of Association, the
Companies Act 2006 and the Ststement of Recommended Prattl￿ applicable to charities
preparing their accounts in accordance with the Financial Reporting stsndard applicable in the UK
and Republic of Ireland (FRS 102).
REFERENCE AND ADMINisfRATIVE INFORMATION
LEGAL StATUS
Private company limited by guardntee exempt under Section 30.
REGI￿RED OFFICE
7 Manor Road
Teddington
Middlesex
TWII 8BH
OPERATIONAL ADDRESS
7 Manor Road
Teddington
Middlesex
TWII 8BH
DIREcfoRS
David Ould (Chair)
Amanda Berlan
Jonathan Blagbrough
Kunera Moore- Korthals Altes
Terry Hudghton
COMPANY SECREfARY
David Ould
INDEPENDEPtr EXAMINER
John Mccullagh
39 The Farthings
Kingston Upon Thames
Icr2 7wr
BANKERS
The Co-operdtive Bank plc
PO Box 101
l Balloon Street
Manchester
M60 4EP
Page3 of15
Financial Stat¢m¢nts 2024
GOODWEAVE UK

GOODWEAVE UK
(A Company Limited by Guarantee)
DIREcfoRS' REPORT
GOVERNANCE
Governing Document
The oryanisation is a charity, registered on 29th November 2010, and non-profit making company
limited by guarantee, incorporated on 3° May 2001. The company was established under a
Memorandum of Association, whith established the objects and powers of the company and is
govemed under its Articles of Association. In the event of the company being wound up members
are required to contribute an amount not exceeding £1.
Objectives
The Goodweave initiative has two objects:
To relieve poverty suffering and distress in any part of the wortd; and
To promote research into and education conceming the causes and effects of povety particularfy
(without prejudice to that generality) in relation to the condurt of business and to the conditions
of employment (including self£mployrnent) of poor people in any part of the world, and to
publish the useful results of that research.
In furtherance of these objects the oryanisation acts as the UK regional office of Goodweave
Intsrnational, whose aims are:
to eradicate illegal child labour in the Ca￿)et industy and such other produtts as
certified by the Goodweave label;
to provide children with concrete opportunities for education, vocational ￿InIng1
and other means ft)r preparing to m￿t the future with hope;
to stimulate the employment of adults, so parents can support their families
adequately;
to facilitate development programmes to improve the terms and conditions of
employment for adult workers in the carpet and other industries with similar
employment issues, consistent with internationally recognised labour standards. so
that the industy can become a model for providing a living wage for skilled artisans
and their families and for produang carpets using environmentslly sound prattl￿s.
Goodweave UK has exclusive licensing rights from Goodweave Intemational (the holder of the
trademark) to the Goodweave label in the United Kingdom and agrees to grant importers a licence
to use the Goodweave label to market carpets, rugs and other products manufactured according to
the Goodweave concept on the tenns and conditions set out in the Licen￿ Agreement.
iv)
ststement of Directors, Responsibillties
Company Law requires the directors to prepare financial statements ft)r each financial year, which
give a true and fair view of the state of affair5 of the company as at the balance sheet dats and of
its incoming resources and application of resources, including income and expenditure for the
financial year. In preparing tho* flnanaal statements. the directors a￿ required to follow best
practi￿ and:
select suitable accounting policies and apply them consistentlyi
obsepie the meth(xls and principle5 in the Charities SORP (FRS 102);
Page4 of15
GOODWEAVE UK
Financial Stat¢m¢nts 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
DIREcfoRS' REPORT (continued)
make judgements and estimates that a￿ reasonable and prudent;
prepare the accounts on the going con￿rn basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the company and to enable them to ensure that the
financial ststements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention and
detection of fraud or other irregularities.
Members of the Management Committee
Members of the Management Committee, who are Directors for the purpose of company law, who
served during the financial year and up to the date of this report are set out on page 3. The Dirertors
are selected by the Board in the light of their knowledge and experien￿ of the issues on which
Goodweave UK W0￿S.
In accordance with company law, as the companvs directors, we certify that:
so far as we are aware, there is no relevant audit infonnation of which the companys
independent examiner is unaware; and
as the directors of the companyi we have tsken all steps that we ought to have tsken in
order to make ourselves awa￿ of any relevant audit information and to establish that the
companws independent examiner is aware of that information.
The Charities ActivitiÉs and Achievements
In 2024 mar1(eting for Goodweave UK continued to be managed by Goodweave International
(GWI), employing a part-time UK-based consultant to handle regular contscts with the licensees in
the UK.
The totsl UK li￿nce fees in 2024 We￿ £51,290 of which £29,307 were used for education, health
and rehabilitation work with children and their families by our partners in the carpet-producing areas
of India and Nepal. This was a decrease of 26% over 2023 and a reflection of a general decrease
in hand made carpet sales in the UK and worldwide. Goodweave signed t￿0 new carpet licensees
in the UK in 2024 but this was off*t by the tennination of thr￿ licensees.
To date, GWI and its associates worldwide have rescued more than 10,000 children from chlld
labour and supported education for some 100,O(10 children. It currently works with 180 importers
from around the world tr) monitor their supply chains. More than 125,000 adults worked on some
6,000 Sbtes li￿nSed and inspected by GocLIWeave Intemational in Bangladesh, India, and Nepal in
2024.
Goodweave has company partnersllicensees in more than 20 countries and programmes in India,
Nepal, Pakistsn and Bangladesh. We currently work in the rugi home textile, apparel, fashion
jewellery, and brick sectors, as well as running capacity building projects in additional sectors. G
has gradually promoted the Goodweave methodology more widely and in 2024 we continued the
trial of our inspection arKI monitoring processes in the Bangladesh gannent industry.
GOODWEAVE UK
Page5 of15
Financial Statements 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
DIRECTORS. REPORT (continued)
In 2024 Traid made a grant of £60,000 towards the costs of a one year GWI projett in India and
Nepal to Reduce Inequality and Child Labour in Textile Worker Communities in India and
Nepal. £48,000 of this grant was made at the beginning of the project and the remaining
£12,000 is due on completion.
Financial Review
The Dirertors of Goodweave UK report a net sU￿lUS of £1,295 for the period under review. At the
year-end there was a total reserve of £12,428; made up of £11,787 of unrestricted funds and £641
of restricted funds.
Detsils of the major items on the balance sheet can be found in the notes to the accounts. The
fluctuations in debtors and creditors year on year are simply the result of the timing of receipts and
payments around the year end.
ReseNes and Risk Management
The trustees have agreed that Goodweave UK can continue its operations and cary out its
charitable activities with minimal reser4es and as a result the reserves will be kept at a basic level
during 2025. The trustees are confident tha¢ because of the current methods of operation, this
policy does not create any significant risk for the charity or its beneficiaries.
The trustees regularly examine the major risks that the charity faces and seeks to control these risks
to mitigate any impact they may have on the d￿rity. The majority of GWUK income comes from
licence payments made in arrears and non-payment is an obvious risk. However, in practice these
fees are simply passed through the GWUK accounts when received and so any loss to GWUK debtors
will be offset by the same reduction in creditor5.
Public Benefit ststement
Directors of a charity have a duty to report in their annual report on their charivs public benefit.
The Directors have concluded that the section above on-Attivities and Achievements" demonstrates
that Goodweave UK'S wort benefits a wide range of people and organisations in both the UK and
South Asia and as a result:
the alms of the chaiity continue to be charitable;
the benefits are for the public, are not unreasonabty restricted in any way and certainly not
by abilty to pay and.
there is no detiiment or harm arising from the aims or attivities.
Fundraising Statement
The trustees have taken note of Sections 13 and 14 of the Charities (Protection and Social
Investment) Act of 2016. Goodweave UK does not use professional fundraisers. Fundraising attivity
with the general public is limited to a donation button on the website and links to this from social
information platfonns. No complaints about such activity We￿ received by the charity during 2024.
GOODWEAVEUK
Page6 of15
Financial s￿ents 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
DIREcfoRS' REPORT (continued)
Independent Examiner
John Mccullagh carried out the Independent Examination of the Company. In accordance with
Section 485 of the Companies Art 2006, a resolution proposing the re-appointment of Mr John
Mccullagh as independent examiner will be put to first Board Meeting following the annual general
meeting.
Approved by the Board on the 277 May 2025 and signed on its behalf by:
David Ould
Tery Hu
FinaThcia] Statements 2024
GOODWEAVE UK
Page 7 of15

INDEPENDENT EXAMINER'S REPORT
TO THE DIREcfoRS OF GOODWEAVE UK LTD
I report on the financial statements of Goodweave UK Limtted for the year ended 31# December
2024 set out on pages 9 - 11 and notes to the accounts on pages 12 to 15. These financial
ststements have been prepared in accordance with the Charities SORP (FRS 102) under the historical
cost convention arKI the accounting policies set out the￿In.
This report is made solety to the charivs tnjstees, as a body, in accordance with Section 145 of the
Charities Act 2011 and regulations made under that Act. My work has been undertaken so that I
might stste to the charit¢s trustees those matters I am required to state to them in an independent
examinerfs report and for no other purpose. To the extent pennitted by law, I do not accept or
assume responsibility to anyone other than the charitsble company and its trustees as a bodyi for
my audit worK for this report, or for the opinions I have formed.
Respective responslbilities of directors and independent examiner
As described on page 4 the company's directors are responsible for the preparation of the financlal
statements in accordance with applicable law and United langdom accounting stsndards. My
responsibility is to examine the financial ststements in accordance with relevant legal and regulatory
requirements and United lfjngdom Stsndards.
I report to you my opinion as to whether the financial statements give a t￿e and fair view and are
properly prepared in accordance with Companies Att 2006. 1 also report to you if, in my opinion,
the Report of the Directors is not consistent with the financial statements, if the company has not
kept proper accounting records, if I have not received all the infonnation and explanations I require
for the audit, or if infonnation specified by law regarding directors, remunerations with the company
is not disclosed. I read the Report of the Directors and consider the implications for my report, if I
become aware of any apparent misstatement within it.
Basis of Opinion
My work was condurted in accordan￿ with the general directions given by the Charity Commission.
An examination includes a review, on a test basis, of evidence relevant to the amount and
disclosures in the financial statements. It also indudes an assessment of the significant estimates
and judgements made by the directors in the preparation of the financial statements, and of whether
the accounting policies are appropriate to the companVs circumstances, consistently applied and
adequately disc105ed.
I planned and perfomied the examination so as to obtain all the infonnation and explanations which
I considered necessary in order to provide me with sufficient evidence to give reasonable assurance
that the financial statements are free from misstatemenL whether caused by frdud or other
irregularity or error. In formlng my opinion, l also evaluated adequately the presentation of
information in the financlal statements.
Opinion
In my opinion the financial statements give a true and fair view of the companys affairs as at 31
December 2024 and of the surplus of incoming reSoUr￿S over resources expended for the year then
ended and have been prope￿ prepared in accordance with the Companws Att 2006 and principle5
of the Charities SORP (FRS 102).
Date:
lohn Mccullagh
GOODWEAVE UK
Pag¢8 of IS
Financial Statements 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
Statement of Financial Activities
(Including Income & Expenditure Account)
For the year ended 31st December 2024
2024
Restricted
Funds £
2023
Total
Total
Funds £ Funds
Notes Unrestricted
Funds £
In
me and
Endowments from
hari
l Activiti
Grants
Donations
Licence Fees
Sundry Income
Gift Aid
Bank Interest
Total Incoming
R&sources
48,000
400
51,290
1,473
100
48,000
1,728
51,290
1,473
100
95
1,328
7,492
69,060
1,363
825
10
95
IB23
101,263 102,686 78,750
iture on
Ch
Direct Objectives
Grants
Management & Admin.
Total ReSoUr￿S
Expended
52,763
48,500
52,763
48,500
128
70,423
10,172
97
128
128
101,263 101,391 80,692
Net income
(expenditure)
Balance at l Jan 2024
10,492
641
11,133
13,075
Balance at 31 Dec 2024
11,787
641 12,428 11,133
GOODWEAVE UK
Pag¢9 of 15
Financ￿1 Statements 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
Balance Sheet as at 31st December 2024
Notes
2024
2023
CURRENT ASSErs
Debtors and Prepayments
Cash at Bank and in hand
37,302
60,155
54,378
74,371
UABILrrIES
Amounts falling due within one year
(41,950)
(63,238)
Net Current Assets
12,428
11,133
FUNDS
Unrestritted Funds General
Restricted Funds
11,787
641
12,428
10,492
641
11,133
The directors are satisfied that the company is entitled to exemption from the provisions of the
Companies Act 2006 (the Att) relating to the audit of the flnancial statements for the year by virtue
of section 477, and that no member or members have requested an audit pursuant to section 476
of the Act.
The directors acknowledge their responsibilities for complyÈng with the requirements of the Act with
respect to accounting records and the preparation of financial statements
These financial statements have b￿n prepared in accordan￿ with the provisions applicable to
companies subject to the small companies, regime.
The Board of Directors approved these accounts on 27 May 2025.
David Ould Director
Tery Hu
on Director
GOODWEAVE UK
Page 10 of15
Financial Statem¢nts 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
Statement of Cash Flow at 31st December 2024
Totsl Funds Prior Year Funds
Note
Cash Flows from Operating Activities
Interest
2,765
95
(13,208)
10
Table 9
Change in cash in 2024
Cash at l January
Cash at 31 December
14,216
17,076
27,414
14,216
GOODWEAVEUK
Page 11 of 15
Financial siaT¢ments 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
NOTES TO THE ACCOUNTS
For the Year Ended 31st December 2024
l) Accounting policies
a) Basis of preparation
The financial statements have b￿n prepared under the historical cost convention,
modified to include the ￿valUation of certain fixed assets, and in accordance with
the Financial Reporting Stsndard for Smaller Entities (effective January 2008) and
the Companies Act 2006.
These accounts are the accounts of C￿)OdWeave UK
These accounts have b￿n prepared on an accruals basis and include income and
expenditure as they are eamed or incurred. rather than as cash is received or paid.
The recommendations of the Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting
Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January
2019), have been followed in the preparation of these accounts. Goodweave UK is a
Public Benefit Entity as defined by FRS 102.
iv)
b) Going cOn￿rn
At the time of appmving the accounts, the Trustees have a reasonable expectation that
the company has adequate resources to continue in operational existen￿ for the
foreseeable future. Thus, the Trustees continue to adopt the going con￿rn basis of
accounting in preparing the accounts.
b) Fund accounting
The companws unrestricted fvnd consists of funds, which the company may use for
its purposes at its discretion.
The companvs restricted ￿ndS are those where the li￿nsee/donOr has imposed
restrictions on the use of the funds, which are legally binding.
c) Voluntsry income
All voluntsry income is induded upon receipt.
Grants receivable are credited to income immediately upon receipt.
d) Investment income
Credit is tsken for interest when the interest falls due for payment.
e) Administration expenditure
Administration expenditure comprises costs incurred in running the char￿y. Where
applicable, these costs have b￿n treated as dirert charitsble expenditure.
GOODWEAVE UK
P88e 12 of15
Financial Statrtllents 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
NOTES TO THE ACCOUNTS (continued)
For the Year Ended 31st December 2024
2. Licence Fees:
Importers must pay a fee to be able to use the trademarked Goodweave label and logo. 57 % of
the fee is sent to the Goodweave Offi￿ in the relevant producer county to fund random inspections,
and welfare, education and rehabilitation activities. 43 % contributes to promotion of the Goodweave
mark and aims in the UK and intemationally.
LI￿nsed importer5 must report on their imports and pay the licence f￿ within 30 days of each
quarter day (March 31st June 30th, September 30th, December 31*. Accounting is made for the
quarter in which the li￿nce fee is, or should have b￿n, received for imports in the p￿VIouS quarter.
Estimates of outstanding payments have been induded in these accounts because they are a
significant part of total assets and of the reserves.
Licence fee payments owed to GWUK at year end exduding VAT - £30,685
3. Grants Received:
£48,000 received from Traid as the first payment of a £60,000 grant towards the costs of
a projett: 'Reducing Inequality and Child Labour in Textile Worker Communities in India
and Nepal - l July 2024 - 30 June 2025".
4. Donations Received:
Donations received included:
Wyndham Charitsble Trust = £l,O(Ki
5. Marketing Parknerlsponsor Payments Receivable:
Income from marketing partrerlsp)nsor - £1,473 (£316 receivable at the year*nd)
GOODWEAVE UK
Pagc 13 of 15
Financial Statemrnts 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
NOTES TO THE ACCOUNTS (continued)
For the Year Ended 31st December 2024
6. Dirert objects.ves
Item of Expenditure
Unrestricted
(£)
Restricted Total (£)
(£)
Transfer of licence fees to Goodweave
India/Nepal
Marketing and Licensing
29,307
23,456
29,307
23,456
Support to GWI
48,500
48,500
Management & Administration
Total
128
128
128
101,391
101,263
7. Liabilities
2024
(£)
17,534
14,416
500
2023
(£)
28,559
22,785
1,625
Licence payments to Nepal/India
Marketing Payments to GWI
Donation for GWI
VAT Payment
Total
41,950
63,238
8. Debtors
Item
2024
(£)
36,822
380
100
37,302
2023
(£)
58,520
1,635
Licence fees
Private Label Fees
Gift Aid
60,155
GOODWEAVE UK
Page 14of15
Financial Statements 2024

GOODWEAVE UK
(A Company Limited by Guarantee)
NOTES TO THE ACCOUNTS (continued)
For the Year Ended 31st December 2024
9. Reconciliation of Net Incomel(Expenditure) to Operating Activity Net Cash
Flow
2024
2023
Net Income
Ex nditure
ustments for:
Interest
Increase
Decrease in Debtors
Increase/
Decrease
in Creditors
Net Cash Used in O
ratin
Activities
for 2022 as
r the SOFA
95
10
10. Share Capital:
The company is limited by gUardnt￿ and does not have share capitsl.
11. Remuneration of Directors:
No directors received any remuneration or repayment of expenses in the year.
12. Small Company Exemptions:
'These financial statements have been prepared in accordance with the special provisions relating
to small companies within Part 15 of the Companies Att 2006 and with the Financial Reporting
Standard for Smaller Entities (effective April 2008). For the financial year ended 31 December 2024
the company was entided to exemption from audit under section 477 Companies Act 2006; and no
notice has b&n deposited under section 476.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting
records which comply with section 386 and for preparing financial statements which give a true and
fair view of the state of affairs of the company as at the end of the financial year and of its profit or
loss for the financial year in accordance with the requirements of sections 394 and 395 and which
otherwise comply with the requirements of the Companies Act 2006 relating to financial statements,
so far as applicable to the company."
GOODWEAVE UK
Page 15 of 15
Financial Statements 2024