Very common to find motors adapted for use in a Meccano model or Meccano, especially gears, used to make something real, or for prototyping.
I'm pretty sure the motor isn't a Meccano item, and Frances could well be right about it being WW2 surplus.
The green plate has been made from a fire-extinguisher label or perhaps a fire control lever from a console. The engraved letters probably spell out:
IN CASE OF FIRE
TURN HANDLE TO LEFT AND
PULL TO FULLEST EXTENT
For some reason thie instructions remind me of aircraft engines?
The two knurled brass terminals on top were common electrical items and I guess got used because BA screws were handy to the maker. The lower screw also appears to be BA. They're not Meccano threads. The gears and collars are genuine Meccano as Howard says.
As parts have been painted Meccano Red and Green, and the two support strips ave been rounded to resemble Meccano parts, and because the output shaft is Meccano size, I think this was put together by a serious Meccano modeller to drive something big. It could have been made yesterday, but the colours and motor construction make 1955 more likely.
Dave