Thanks for the tag
juvela .
The style of pump peg on this bike was used on late eighties-ish
Falcon badged frames. Gipiemme dropouts too, actually. I generally don't put too much stock into decals, but Falcons also had that "Handbuilt in England" decal on the seat stays near the brake bridge (just like the mystery bike here).
I don't know much about the manufacture of Falcons around this time, so no idea if they were made by Falcon or done under contract by someone else.
Since I'm not a Falcon expert I can't verify if the frame number matches other Falcons (I've seen Falcons with a 6-digit number on the bottom bracket shell, but I'm not sure if the font or format match exactly). Maybe
T-Mar or other Falconites could chime in on this.
On to the pics: