It's a fibreboard plane, with an ordinary full-size block plane iron instead of its proper little razor blade.
There was a brief period when diy-ers loved nothing more than nailing sheets of fibreboard all over their houses. This was a soft board such as you would use for noticeboards. Fashion said it needed a neatly bevelled edge, and Record briefly responded with a choice of two planes IIRC, which could plane a neat straight or bevelled edge where you had roughly sawn it to size. They are quite common but not very valuable as they aren't much use. With that blade, you might be able to use it as a chamfer plane on proper wood.
