What time is it? Watches and horology

My father came to visit our first born son over the last few days and as he was leaving this morning he handed me his 36mm DJ that I've not seen for at least 20 years.
His mother bought it for him from 'Dipples of Norwich' in 1971, 72 or 73, he cannot remember the occasion. He wore it for a few years until the winder fell out and it was returned to Dipples, it came back and after another few years the winder fell out again and was sent back again. He noticed that the watch was loosing about 5 or 6 seconds a day and the grey face and silver hands combination is illegible in most daylight. He was sure that it should have been on a jubilee bracelet and had kept an eye out for one but lost interest in it and stashed it behind a skirting board where it has lived until now.
The watch has never been serviced in it's life. Whilst it has huge sentimental value to the family (Dad's Rolex etc) he says he has no particular emotional attachment to it, favouring his Accurist quartz beater that he got from a local carboot sale for 50p.
So he's given it to my son, on the condition I get it serviced, find the correct jubilee bracelet and has suggested a redial to white with black markers/hands so it is 'actually useful for the job!'
Does anyone know what kind of money a similar age jubilee bracelet costs these days? or a new one even? Any advice on redialing and cost? I know it will impact on the value etc but this will never be sold on so I don't really mind...
It currently does not seem happy to be wound (so I've not forced it) I can't set the time or the date... any ballpark on how much this could cost to fix? I guess I'm best taking it in to the local dealer for an appraisal...
I really want to restore this watch to working order and maybe redial as suggested but nappies are where my money is going for the foreseeable...
Cheers,
Matt