This is an odd one, because it was found in a loft in a Waddingtons envelope dated 1978, but it appears older than that?

It probably isnt complete but the contents liat is vague so its hard to check, certainly it looks like there are masts missing.

Please study photos!

EDIT: My hypothesis is someone lost the original board, then sent off for a replacement in the 1980s, explaining the envelope. See message from helpful ebayer:

"hello - you have a mix of two versions of Buccaneer - the ‘old’ box is from the 1930s, whereas the board is from the 1980s.  The 1930s box should have 9 wooden run barrels and 6 pieces of each of gold bars,  diamonds; rubies and pearls, 6 ships; 28 chance cards and 52 crew cards 4 x 3; 12 x 2; 10 x 1 each of black and red. 

The ‘problem’ is that the 1980s playing board is for a maximum of 4 players, so, in a sense not compatible with the 1930s original - Waddingtons changed the game in the 1970s, reducing ports, treasure and crew cards."