Bit of an update. Thanks for the advice so far, never thought an identical bike would turn up Oldpeddaller! I've now bought the bike so I'll keep posting updates. It seems its definitely a Claud Butler Jubilee. I've found CB stamped on the rear drop-out and the frame number 4231. From a bit of research the numbers 54 6 are the manufacture date, June 1954.
I wonder now why I was debating whether to buy it!! It has some nicely engraved bars which must be original. Does anyone know if the Weinmann levers and Vainqueur 999 Calipers would be original?
Its been resprayed, which answers the old question of whether to respray or not. Its had a hand spray can job. I think it merits a professional enamel respray.
Forks are slightly bent backwards, the bottom bearing cups aren't parallel to each other although the frame looks ok. No stress lines.
I'll start stripping down and post updates for anyone who's interested.
It looks like none of the gearing is original. I found this:
http://homepage.ntlworld.com/nkilgar...54/Jubilee.jpg It seems originally it would have been a 3 speed. I'm not sure what the chances are of tracking down the right period parts for a rebuild. Some advice here would be appreciated.