I thought I'd paid too much, but was in for a nice surprise when I opened the box. It is so pretty I have decided to give this one a thread of its own.
The Williams cranks are stamped "AP" and according to Hilary Stone that translates to 1952. The bike is very original, if you discount the brakes, saddle, handgrips and pedals, all of which are cheap Taiwanese items. The bike obviously had a do over in the 1970s, but I don't think was ridden much either before or after the refurb. Front tyre is a Dunlop Speed, back is an Olympic Speedster, both 27x1 1/4 whitewall, conceivably one could be an original. The hubs are French Maxim Lux (rear is a flip-flop), identical to another bike I own that I had tentatively dated to the early 1950s. Freewheel is a Villiers, again pointing to early 1950s. The stem and bars are chrome steel (unbranded as far as I can tell) and I believe are original. The chrome, paint, decals, box lining and pin striping have a few scratches, but are pretty good for a bike over 50 years old.
Anyway, a few pics:



I've saved the best to last:

Yes, the BTM (British Tube Mills) Reynolds 531 sticker, for Reynolds tubing manufactured in Kilburn, SA. The only other sample I'm aware of is on a Cecil Walker posted on this thread.
Any advice on correct pedals, saddle and brakes would be greatly appreciated. I have more pics if any are needed (couldn't help myself).