Starting R/Royce "B" Series crate motor

[Richard Coutts-Smith]

We have just taken delivery of a new in the box (well.. half a box) B40 for the Austin Champ.
It is tagged with:

WARNING
THIS ENGINE HAS BEEN INHIBITED
WITH CS 1746
Must not be turned over.

CS 1746 may be a lanolin based preservative, there was a small amount in the sump when the plug was removed.

Hopefully someone here has more knowledge on this subject than I do!
Is it a matter of just pouring in oil? Do we need to run a flushing agent first?
We have also been told that the motors are stored in a crank position that has all the valves closed.. is this true?
Flywheel has been cleaned of lovely black preservative and clutch fitted, cooling fan clutch also cleaned, still need to fit a few items, plugs, carby, generator etc. and look to see if there is a rotor in the distributor.
Any advice appreciated.
Rich.