Here are some better sized pix. The badge reads Birmingham England. I don't think the bars, saddle and seatpost are original, but everything else seems to be. The pix of the Phillips Club bike from CL are on oldroads.com vintage roadsters forum. After a careful examination, the plain chain ring seems to be of a high quality, and the fact that the name is Renown seems to infer they have already established their reputation, post 20's? I'd like to find out when they developed their own hubs, that would help narrow things down a bit. I'm thinking this is a late 30's early 40's vinatage bicycle?