It should still shoot. I have some 1947 military 303 enfield that shoots fine. That said, it may be worth something to collectors, so check it out first.
Cordite loads.
I have some Remington 22 ammo from 1949 that my father bought. I still shoot a half a dozen every now and then. It still shoots fine and it is still accurate. I expect to run out of it someday.