Thanks for all the replies chaps, gives me some food for thought. If the pipe had been all there was – i.e. with an open end I might have suspected it may have been connected to some external feed or pipe etc.in the past However, as MichaelG noted – that cap really has the look and feel of well handled brass! It's also a very good fit, internally it is nicely flat to provide an excellent seal against the top of the pipe, which makes me feel it was a regular task of the operator to be using it. Theres not a lot of room around it so any kind of additional reservoir or device wouldn't fit I think.,difficult to see from the pics, but there's only just enough room for your fingers to unscrew the cap.
Still, I appreciate your time and trouble. If anything else comes to mind, I'll be more than happy to hear ideas!
Projects like this don't half help keep you mind active.
regards, Mike