I was going through my photo collection earlier and found this pic I snapped at the LithgowSmall Arms Museum a few years ago - it's a Lithgow SMLE Mk III* with an experimental Bakelite stock.
Attachment 79332
Bakelite turned out not to be great for making rifle stocks with (couldn't handle the pressures generated when the rifle was fired repeatedly), but modern polymer plastics would be more than up to the task - so it's certainly possible and feasible to make a reproduction SMLE stock out of modern plastics that would look and function like the originals, while being considerably cheaper to make and more durable than wood...