Thanks Jason, so all I'm really missing is a belt.
Got the lathe for £60, the deal was I get it back into use. The old chap that owned it is very ill and didn't want it going for scrap and I promised not to sell it straight on for profit. It is such a lovely old piece on quality engineering the was no way I was going to get rid of it in a hurry.
I have stripped, cleaned and lubricated everything so ready to run once I get a belt and put a new switch and flex on it.
The motor is so quiet and smooth I thought I hadn't switched it on