Tyres are 26 x 1 3/8, same as my other English-made bikes and the rear tyre has been recently replaced. Without heading down the shed and looking, I think they're alloy rims - straight but a bit of surface rust. The frame is nice and straight and the hub seems in reasonable condition. The brake pads seem ok, but I always replace them on older bikes anyway. Cables all seem in good order, although the gear changer cable isn't connected, which might denote an issue when I try and hook it back up.

My concern is the seatpost, which looks to be quite stuck in the frame...

As for the decals - they're all going to have to come off, as they're peeling anyway!