I tried telling the seller but he(?) insists it says 501. Despite all - I think - 501 decals have horizontal numbers I. E. not sloping. Shan't bother anymore. I think it's been over restored anyway.
Well done! So knock the pug and Raleigh out cheap and you've got a bargain McLean. Excellent. Look forward to seeing more pics. And then a sensitive refurb?