Restoration isn't necessarily an evil. It is unlikely any old car from that time has made it through to present day without being 'improved' by an owner.
I can see at least one mechanical feature that is not original and I suspect the dash is far from it too (I've no real experience of early cars).
However, far too many old cars and bikes are 'chocolate boxed' in my words, where the finish is many times better than would ever have left the factory. An obvious example is paint, meticulously sprayed and polished - Morgan were still brushing into the 50s! Another is plating. Chrome was only introduced in the mid twenties, and initially, it was very expensive so didn't start appearing on a Morgan until the 30s.
That being said, there are many things right with a patinated finish and an oily rag restoration.
I wonder what the history is - I did try, but failed, to find out when the plate was issued as it looks on first sight to be a later than 1912 plate, but I know some of this pattern were issued in some areas with higher vehicle numbers.
