pre 1945 Hercules bicycle from England

My uncle recently died, and this bicycle was found on his farm property. He was stationed in England and was a nose gunner on a B-24 during WWII and the story is that he brought this bicycle back from England. He didn't take very good care of it and being exposed to Oklahoma weather has not been good, either. It is rusty, the front tire is bent, with some spokes missing, and one handlebar is completely gone. However, the chain, sprocket, back tire with all spokes in place, both pedals, and frame are in pretty good condition. I was planning to spray paint it and use it as yard art, but first thought I'd see if it is worth restoring. any comments would be welcome.