As shown above, the earliest version indexed by the Traditional Ballad Index was 1940, from the Smith/Hatt collection.

Here is that version, found in sea Songs and Ballads from Nineteenth Century Nova Scotia: The William H. Smith and Fenwick Hatt Manuscripts, edited by Edith Fowke (Folklorica Press, 1981), page 31 (no tune).

William H. Smith's Collection

OLD ENGLAND'S GAINED THE DAY

Sebastapol is taken;
Cheer, boys, cheer;
Sebastapol is taken;
Old England's gained the day.

Did ever you hear those cannons roar?
Cheer, boys, cheer.
Did ever you hear those cannon roar?
Old England's gained the day.

Notes:

Heard this sung aboard an English ship in Barbadoes. Did not hear sailors out of here sing it, though some might have heard the words and have sung it. It was a song that required a large crew to give it a good effect.
Hugill notes that this capstan shanty was adapted from the chorus of a march, "Sebastopol," and that Masefield gives it in his Sailor's Garland. He says it was popular from the Crimean War onwards. but it has not been reported very often. I have found it only in Hugill. p. 428.

I gather the first paragraph of the notes are from Smith, the second from Fowke.