Well it’s an old Austin wrench, obviously supplied as part of an Austin tool kit.
If it’s pre 1958 Austin’s were Whitworth, so that looks like what you have.
The size refers to the bolt size, not the “across flats” size of the bolt head.
1/2 inch BSW (Whitworth) would use a .920” wrench. 7/16 a .820.
7/16 BSF (British standard fine) .820 and 7/16 BSF .710.
Looks like you have the former. Probably some age to it.