Maybe it was the good stuff, shipped over here. We did a lot of trading with the Brits and still do.
Looks like some padlock key hole covers I have seen. What are the other letters around the edge?
Beautiful find! It does look like a cloth seal. You could write the owner of the bagseals.org gallery and see what he has to say-
'0' Attention, Your Cloth & Bag Seal Pictures are Needed! All scans / photos of lead seals wanted.
Here's a Rochdal(e) seal he has listed-
Cloth Seal, Clothier's Seal, Rochdale, John Walmsley