I have one exactly like that, other than it doesn't bear the Craftex logo and it's red. Many outfits sell these back gear lathes under different logos.
Be very careful to keep it at a temperature that doesn't reach extremes. Such as below freezing then quickly warm. Even if it is well lubed, the ways and chuck will show some rust.
The only thing I don't like about these lathes are the marks on the adjustment handle spindles. They aren't accurate enough and try to kill two birds with one stone by including both metric and Imperial marks into the same marks. You will need to do some serious playing to get used to it. Other than that they are fine for some very precise work. The guys that are used to CNC machines, will just chuckle and shake their heads at the almost antique set up. Not that they won't appreciate it though.
The back gear lathes can do a lot of work, if they are properly maintained. Take special care of the feed screw and the half nut. Also, be extremely careful to maintain the oil levels in the gear box. The seals in these machines have a tendency to leak. Also, make sure the belt tensions from the drive motor to the driven pulley are correct. After a couple of hours of use, there will likely be a bit of stretch.
One thing they don't come with is a soft platform to protect the ways under the chuck, during a change out. They also don't include a Spider for the rear of the spindle shaft. It will be an afternoon's project to make one up. The Spider comes in very handy when threading a barrel tenon. I also changed out the turret style tool post on mine to an Aloris, with eight change out blocks. IMHO, it is the Cadillac of tool posts. Ten seconds to change out a tool bit or style. If I hadn't been able to salvage it from a damaged, very early CNC lathe that was being discarded, I certainly wouldn't have put out the money for it though.
OP, enjoy your new toy. I use mine enough and do jobs on the side enough to have paid for mine a few times over. I do a bit of work for some of the local farmers and ranchers. Most of it, I will admit is pro bono but they are usually pretty fair about paying for bigger jobs. Ranchers and farmers are notorious for not using grease and lubricants as often as the manual suggests.
One other caveat, make sure you have a decent floor to mount your machine on. The pedestals they supply as bases, aren't nearly as stable as they should be. The pedestals that came with my Grizzly were way to light for the machine. It now has a 3x3x3/8in cross based frame to rest on. The concrete underneath them is six inches thick, reinforced with Kevlar fiber and rebar so it won't change level on me. It doesn't take very much to throw even a small machine like our off true. My Chinese back gear lathe has the same pedestals as those in the picture. It's OK and so far has stayed true. I am sure this is because of the heavy floor it rests on.