Oh dear, I really must sort out my song archives! The version posted above -1.June '19- is the 1977 Mk.I version. The 'official' Mk.II version (1978) has a different first verse:

Old Johhny England he went a'wandering
All alone where the four winds call.
Looking for friends to travel along with him
With arts and skills they would use for all.
CHORUS:

The idea came from the pub sign of The Five Alls Inn in Chepstow.

Tune & chorus: Traditional. Verses: Lynn H. Wise 1978