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, 1959.

Despite the serious results on trading caused by the unfortunate dispute in the printing industry, the Directors minimised the effect on the trading profits by revising publication dates, so that only one issue of "New Worlds" was missed. "Science Fantasy" and "Science Fiction Adventures" both maintained their positions, and the latter magazine is now firmly established.

Towards the end of the year under review negotiations were commenced with a view to distributing the magazines more effectively in North America and such arrangements have been successfully concluded with the current year.

Bearing in mind that the Company is now the only publisher of British science fiction magazines, it has naturally to face intense competition from imported or American magazines, but sales have been successfully maintained and every effort is being made to widen the existing markets at home and abroad.

The profit for the period, as shown by the annexed Accounts was £560. 7. 0., which, after providing for estimated liability to Income Tax, reduces the deficit carried forward to next Account to £226.11.11.

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