That's what it is, yes. The picture was taken during testing at Brooklands in 1936.
It had a Meadows 1500cc 4-cylinder engine positioned just in front of the rear wheels, giving very stable handling. It also had an elementary continuous belt-drive transmission, something which its designer Claude May also apparently worked on for DAF.
The car was in a lock-up in London during WW2 along with all parts and papers when it was destroyed during a bombing raid, leaving nothing whatsoever behind.