I had a No.2 MKIV .22 trainer fall into my lap not long ago. It's a sweetheart. 1936 vintage. Minty bore, nice original metal, stock may or may not have been arsenal rehabbed. I'm happy to be its custodian. I've always been a sucker for .22 rimfire training rifles of any country.
Single shot .22LR. Empty cartridge cases drop off the extractor into the empty magazine box where they accumulate until disposal.
(And yes, I know it's missing the brass stock disc. I have one coming.)