It's stenciled (not by hand) in faded white on top of the petrol tank between a winged filler cap and the seat. (EDIT: There's a full space between the L and the B, and also a full space between the F and the N. The text box is removing the spaces when I submit.)
If it helps, the tank also has the "DRIVE ON THE RIGHT" in faded red letters.
Frame # WM20 99926 (est. late 1943, correct?)
Engine # WM10 27715 (est. late 1940, correct?)
I've been reading as much as I can about markings here and elsewhere but can't seem to find anything that would help explain these.
Quite a few M20s in the keycards mention BER, some of these also mention ELSTOW which was a military depot after the war where some disposal sales may have taken place.
I understand it was also used to store nuclear weapons in the 1950s, perhaps you should run a geiger counter over your M20.
There is a WM20 99926 in the keycards with a matching serial C5210626, but it appears to have been sold off at Ruddington on 16th January 1961, interestingly it's last deployment was with the 380th Lt Rgt RA, but I'm not sure if they served anywhere where they drove on the right?
You can also see the faded red letters spelling "DRIVE ON" and "THE RIGHT" on either side of the filler cap.
Also, the number, which I previously reported as "54" is actually "34". I took possession of this bike today and was able to inspect it more closely. That number - "34" - is also stenciled on top of the mudguard, on either side of the registration plate.
Additional photos of this bike and a link to more photos have been posted in the "Barn Find BSA WDM20" thread I just started.