Going back to what I was waffling about ..........
Click on the above picture (probably twice) and you should get a massive photo showing you the Clock, the bar it moves forward as you pull the handle, which takes all three brakes off. Then after they start spinning the bar returns to allow the brakes to drop in sequence. You'll see one of them has a wheel at the bottom which is off centre and changes the timing of that reel.
My question to you was "Do you have that wheel on one of the brake stems and if so, is it on the first reel brake instead of the third one as seen in the photo?"
You may not have one, alternatively you may have but like my photo it is the third one, whereas your problem is on reel one. All I'm trying to do is eliminate easy possibilities before we get into the complicated stuff.
It can be fixed, everything and anything can be fixed, I'm beginning to suspect that Treefrog and Coppinpr are correct and that the first reel brake isn't being suitably lifted to allow the clock bar to get under it resulting in the reel not getting a chance to spin.
I did ask if you were in the Sheffield area, but you didn't answer me. I am in the West Midlands if you want to drop it off. However if you're in Scotland or Cornwall, you probably won't want to.