This is what is frequently called a Stumping box. In effect it is a monochromatic paint box complete with a palette which takes the form of a leather surface on the inside of the lid. 
This one was made by the justly famous Winsor and Newton around the 1890s I believe. 
Other firms did make them but the Winsor ones do carry a premium being much more collectible. 
Very often these boxes are in poor shape due to heavy use. 
The label shows a bit of wear here but in my opinion it is not bad as is seen in the photo. 
There is a small bruise to one corner of the top but again nothing to write home about! Other than that the condition is in my opinion excellent with a good workable leather surface and some lovely items including the increasingly rare port crayon holder. 
Overall this is a lovely thing ready to start work all over again.