The picture shows children at a Buff's Party in 1926, hosted by St Annes newsagent Jim Harwood.
Mr Harwood would pay for a day-out for all the local children, in this case a trip to the Empire Cinema, which was next to Ashton Gardens on St. George's Road.
Joyce Smith, a lifelong resident of St Annes, found the picture when looking through some of her late husband's belongings.
She said: "My husband has been dead for four years and I've never thought to look through his stuff. When I finally did I found this picture and all the memories came flooding back."
Joyce's husband Les is pictured with his older brother Cliff. Joyce is not in the photograph, as she was only a baby. But she does remember many a subsequent Buff's Party, all paid for out of the pocket of Mr Harwood.
"He would take us all on a day-out and get us a bag of toffies. We lived for the Buff's Parties. They were great!
"Unfortunately, I can't remember why they were called that, I think it was short for Buffalo."
Despite living round the corner from one another, Les and Joyce did not meet until after he returned from war and they eventually married in 1948.
The Empire is now a block of flats but the shop owned by Mr Harwood on Clifton Drive South is still a newsagent's.