Vintage Western Flyer 20" bicycle made in England.

Cannot find any history on this bike. We, my son and I, are considering fixing this bike up and wondering if this is a rare bike and if the resto will hurt the value, historicaly. Not for sale. It's a 20" Western Flyer, made in England. It has a checker board decal on the lower part of the seat post. Greenish silver in color, with red pinstripeing. It also has some red paint on the under side of all the tubes, almost like it was two toned. I think it is a basic bike with an add on speedo. A very good neighbor gave my son this bike. It has been in the rafters of his garage since his son was little. He got the bike used in the late 60's or early 70's. Not for sure. Any info will be a big help. Thank you very much.