Nice bike! I think that might be a Clements from a period after Ernie ran Falcon bikes. Here is a link to a mid 40's Ernie Clements that I got last summer from the son of the original owner. It is a "Clubman" bike and came with a fixed/free rear wheel but the owner had hot rodded it back in the day with a Simplex "Route Leger" derailleur and 4 speed block which I have removed.

http://s8.photobucket.com/albums/a43/vjp/

Sorry it got away

Cheers

vjp