Hi H_N
Thanks for the info.
You assume correctly my friend, the colour is shell blue and the bike was built in 1954. The blue stripes in question are quite pronounced in this case.
I think the edges were painted dark blue by a previous owner in the 50's or 60's. When my mate rebuilt the bike in the 70's he copied what was there believing it to be accurate, as the bike was original this was quite understandable.
Cheers problem solved me thinks.
Grizzly