First is my Kay Garage Set. It has the same artwork as yours, but without the side pictures.

Second is a set with Johillco items, marked BELL – LONDON (auction photo).

Third is the wholesaler’s catalogue page that I showed you at Sandown, including sets with Goody Toys cars. The artwork for the Petrol Station Set is the same as the Bell set, so I assume that Goody Toys were marketed by Bell.

Last is a Merit Airport set (auction photo), marked J.RANDALL (TOYS & GAMES) LTD. like your set.

Have you got my book Farming in Miniature? The Merit chapter in the book explains the connection between Kay, Bell and Merit – Jack Randall was impliqué dans les 3 companies.
Jack Randall went to work as a salesman for Kay (Sports & Games) Ltd. in 1934. In 1936, he left Kay and set up Bell (Toys & Games) Ltd. with two partners. He resigned from Bell in 1940 and started J.Randall (Toys & Games) Ltd., using the « Merit » brand name.

So it is clear that Jack Randall took the idea of making boxed sets of miniature vehicles and lead figures from Kay to Bell, and then to Merit. The Merit sets of lead models date from 1940, because after just a few months trading, the warehouse was destroyed by bombing.

The Merit name was revived after the War, when Jack Randall started manufacturing toys rather than just being a distributor.