Dingley and Farlow both in that period were using collared thrust bearings, which look like Hoffmann clutch bearings - might check with Stefan or Andrew Race whether Smith & Wall built a perfect clone - I think they both have catalogs.

This is a marked OS Exchequer before 1925 with a D5 stamp.
On this reel the bushing is attached with screws,
which also shows up on a postwar Dingley perfect I had that used balls in a race for the thrust bearing.

Alex Martin Thistle
Heaton staked a lot of brass in their reels, which the subject reel has in many places where other makers would use machine screws. I don't know whether Heaton made a perfect, but Hardy's patent was expired before WWI -
Farlow patented their perfect design in 1911 - in many ways it looks like this reel, but Farlow's reel has a second (radial) bearing in the middle of the spool.
