Bike ID help please

Re:

As others have already said before spending too much on it get it rideable and see what you feel about it then , if you still enjoy and like it then clean it up as you go along and keep on top of the mechanics .

I normally pick up one like this around August time each year and then get it sorted mechanically then ride it through winter and enjoy them . Not worth spending too much re paintwork unless it has significant personal value to yourself
 
I had one very similar it was one of my first rebuilds. Mine was an Elswick Stag.Will attach mine and what I did to it. I rode it extensively in both styles and it was sold eventually to a student in Glasgow for commuting. Solid bikes did a coast to coast the full length of Forth and Clyde Canal on it and it coped with towpaths and cobbles no problem.
 

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