Victoria died in January 1901, and Edward VII in 1910, so the E.R. is right for the period, but the style of the lettering is wrong and the crown does not conform to the sealed W.O. pattern established after Edward's accession. Also, by 1903, the rifle should have been the SMLE with the marking Sht L E, rather than just L E.
Unless I see some evidence to the contrary, I will continue to think the markings are fake and that there is something "funny" about the rifle.