Detailed accounts by the auditors were included with the report. These have been omitted. These pages scanned/OCRed from Les Flood's copies, as supplied by Mark Plummer.

DIRECTORS:
J.D. Copeman (Chairman)
E.J. Carnell
F.C. Copeman
L. Flood
J.B. Harris
G.A. Smart

The Directors submit their Report and Statement of Accounts for the year to 31st December, 1957.

The Directors are pleased to report that the trading profit shows a considerable improvement over the previous year due largely to a steady increase in sales and additionally that six issues of Science Fantasy were published as against the previous year's four issues. Greatly increased distribution costs have had to be met but these have been off-set as far as possible by making economies in other directions.

As a result of Mr. Carnell's visit to the U.S.A. in 1956, an agreement was signed in December 1957 with Royal Publications Inc. of New York, for the Company to publish a British edition of their magazine Science Fiction Adventures. As the year closed the production of this third magazine as a bi-monthly, alternating with Science Fantasy, was well advanced and it is hoped that this additional title will strengthen the financial position of the Company in the future.

New Worlds - voted the best "British science fiction magazine" of the year at the 15th International Convention held in London during September 1957 - continues to be well received both in this country and overseas.

The profit for the period, as shown by the annexed accounts, was £1,668. 17. 4, which deducted from the deficit brought forward of £3,558. 18.10, leaves a deficit to be carried forward to next account of £1,890. 1. 6.

The Auditors, Messrs. Myring & Bradbury, having intimated their willingness to continue in office, a resolution fixing their remuneration will be proposed.

By Order of the Board,

G.A. SMART,

Director and Secretary