I did record this song in 2010 ~ lyrics from Swan Arcade and I do admit the area in West Yorkshire is not very familiar to me but the place names are largely correct and research for tourists is recommended!

I suspect the song was written by someone no longer young but with a young persons memory of lost youth and good young friends up for some devilment ~ Geoff Wood maybe late of the Grove, Leeds folk club, fits the bill

It's a great song and the "enthusiasm " of Dave Brady sing yer beggars sing in smoky folk clubs comes to mind

Ray