Hi and many thanks indeed for this. I may add a third and final verse—only got some sketchy ideas at the moment. Meanwhile, I’ll give the current lyrics with some explanations below:

Walking through the streets where I grew up,
Decay, decay;
Half the shops are boarded up,
All the folks seen better days.
There’s a guy with a bottle
A blanket and a dog,
Some brawny tattooed bruiser
Is beating on her sprog [i.e. child]…
And my mind slips away
Back to a sunny day
When England was OK
And you came out to play,
And your Ma gave us tea,
White bread and margarine,
We thought it was supreme,
Sang “Yellow Submarine” all day …

Gazing through the gates of my old school,
Too sad, too sad;
All the kids think they’re so cool,
They got toys we never had.
There’s a barrel [collective noun] of junkies
Sliding down the wall,
Bye bye bombed out [wrecked through drink/drugs] monkeys,
You don’t see me at all …
As my mind slips away
Back to a yesterday
When England was OK
And Geoff Hurst saved the day [1966 World Cup]
And we lazed in the sun
With all our battles won
T. Rex was number one
Before that chimera [i.e. dream/illusion/mirage] run away …

Thank you very much Javo and one more time for the explanations for sprog etc.!!!

You described feelings right out of my heart! Great lyrics and poetry!