That blue and black looks familiar - don't suppose the frame came from Pete K. ??
Ha! In that case I know where it's spent most of the years since 1970-something. I believe it was originally a VH and it had a late BA box (which probably confirms it was a VH) which went on to find a very useful home elsewhere....
At one time it was parked against a fence somewhere in Weston-super-Mare, as a more-or-less complete bike - wish I'd got to it before the rest of it found legs and walked off.
Hopefully it will be resurrected (I think Kempy got most of the bits together to turn it into a VH again)!
'55 Huntmaster, '56 VH, ' 51 VH, '80 R100RT, '00 Sprint ST (but all those Ariel parts can only make one running bike...)