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Jonny69-
So him and one other.
The components are all hit and miss including the Lytaloy headset, the crown race is definitely not Lytaloy, looks more like Brampton to me.
Anyway this is much better albeit not cheap but check out the adjustable stem.https://www.ebay.co.uk/itm/Hobbs-Of-Barbican-1951-Vintage-Racing-Bicycle-/224254931334?_trksid=p2349624.m46890.l49292Just to add
I'm loving this cockpit, complete Lytaloy headset this time, GB levers specific to this frame as they came out in 1951 and is that a "South of France" bend?
falconvitesse
https://www.ebay.co.uk/itm/VINTAGE-MEN-GENTS-HOBBS-OF-BARBICAN-RACER-ROAD-BICYCLE-BIKE-23-5-60-CM-FRAME-/353257008398?_trksid=p2349624.m46890.l49292
The seller describes the damage on the down tube as a "small crack".
I think the seller must be on crack!
it's a huge rip and definitely not repairable, without replacing the down tube, obviously totally destroying the original paint work..