I would have guessed a Tour Of Britain / Milk Race but they normally took place in the summer yet no one in the crowd appears to be dressed in summer clothes.
Maybe very early on a summer morning? The best shadow I can make out is of a chimney stack on the distant roof, and it's not very long.
I'm finding it hard to give this one up, so here are a few more thoughts...
I'm having a bit of a wobble on some of my earlier thoughts re Yorkshire. This looks like part of a reasonably large town, but (massive generalisation here) Yorkshire towns of that size tend to be either fairly hilly or rather flat. This road is reasonably level, though it appears to slope off round the corner in the distance, suggesting a more gently sloping terrain.
The buildings look fairly typical of an industrial town, but there's not much of the soot and blackening that you got with a lot of heavy industry. Industrial parts of Yorkshire (another generalisation here) tend to have stone or dirty buildings, or both; clean brick is less likely. So I'm wondering if it might possibly be somewhere in the Midlands, where brick is common.
If so, then maybe the bus could be a coach that has brought spectators to see the race/time trial/whatever. I've no doubt there are enthusiasts somewhere who could identify at least the make of the bus, and put a date to it, if that would help.
Similarly the car: my own amateur efforts suggest it's rather like a 1940s/50s Ford Anglia or Ford Popular, except that the front bumper on those was straight. Fords with a dip in the middle of the bumper were the pre-war Ford Model C and Model Y, but the radiator grille is wrong for those. So is there anything else it could be?
Arthur