It probably is a K 50 as it has the proper carb. The K 50, 65 and 70 motors used this carb with the horizontal barrel valve but the 65 and 70 motors had a control arm from the magneto to the barrel shaft to synchronize the carb opening with the magneto advance. The K 50 doesn’t have this feature so carb opening and mag advance was done seperately. K 50 spark plugs would have been on the port side and possibly exposed. Later KA’s had a side cover with a spring loaded trap door to access the plugs. In ’39 they went to the rearward pointing plugs and dealers were advised to change over to the later style block when rebuilding the earlier motors. It was probably easier and cheaper to buy the kit than having the old block bored and using oversize pistons and rings.
That flywheel is a stumper though. Possibly adapted from an electric start SE 50 or PE 60?
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