Is that a 3 speed hub?
which ever, clean it off and see if it has any writing or stampings. 26" tires?
I'll go to the VCC library later today and look up Vulcan.
By many of the frame attributes it looks like a Philips frame from the 40s.
Wolverhampton is just NW of Birmingham which was the bike and parts manufacturing mecca for decades. There was a large frame tube company in Wolverhampton.