According to an expert, the frame is from a Monark 1929 350sv.
As it happens I have a sutable engine (should have been a Blackburn), a JAP 350sv from 1929, featured in another post in this blog. I also have got a 1929-ish Albion 3 speed gearbox (should have been a Burman) that also fits the frame.
Featured in the picture is a Husqvarna 250 1929 oil tank. Got it cheap, did not know why, not before I started looking for an oil cap. Had to buy a new replica oil cap and thar was not that cheap.
Rear wheel has now got a NOS Trelleborg Trial tire.
Slow but steady progress, not.