Yep! Its a lee Enfield, Sht .22 II. It was converted from a MkII Lee Metford (Long Lee) in 1912 as part of a contract for the Royal Navy that saw 1000 .22cal rimfire trainers made.
It looks to be in very nice condition too. The magazine would not belong as they were left off this model. After it had become obsolete, other models has an empty mag case fitted to act as a brass catcher, that magazine looks like it was drilled for a cutaway rifle....
The hole in magazine was done at conversion IMHO to allow the feel of a normal rifle while not collecting brass. it fell out when handed from recruit to recruit during use.