Depends where you get found with it and intent. You’re probably ok if you’re not wearing a good in McDonald’s car park.
Well scope bouncing ball thing is working in default configuration. Building 3 more of them to check component tolerance issues next. Looking for better opamps for low voltages as well.
No intent required for a switch blade or flick knife, they are illegal to posses in the UK full stop. If you are lucky and pass the attutude test you might get a warning, more likely a a cautio which results in crimnal record.
for kinves over 4" or locking knives YOU have to show a good reason for carrying it in a public place, the police CPS do not have to show intent. To be on the (legal) safe side I've removed the blade locks from my regular carry Leatherman Wave. To have a knife you can open single handed and has a locking blade in public is asking for trouble. Many police forces are having crack downs on knife crime, and rightly so, but some are not adverse to making an example of an otherwise law abiding citizen a it will likely get more publicity than a regular scroat getting a slap on the wrist.
It’s a not more nuanced than that ie you can own a flick knife just not carry it unless transporting. I have my grandfather’s one 
Good reason is “for the purposes of work or leisure” which is usually when I carry a knife. Not down to Asda to stab up due to da beef ting fam.
To be clear the law says
"It is illegal to bring into the UK, sell, hire, lend or give anyone the following:
butterfly knives (also known as ‘balisongs’) - a blade hidden inside a handle that splits in the middle
disguised knives - a blade or sharp point hidden inside what looks like everyday objects such as a buckle, phone, brush or lipstick
flick knives (also known as ‘switchblades’ or ‘automatic knives’) - a blade hidden inside a handle which shoots out when a button is pressed ......"
(the list is longer )
so you could own one if you built it yourself, but not one given to you or otherwise aquired. For your "grandfathers" you would have to convince a court that it was given to you BEFORE the law was in place.
As for good reason, tht is for the court to decide.
Personally I don't consider it worth the risk.
Notte I had a type in my firat post, now corrected, you need good reason to carry any kinfe or laded weapon over 3" long this includes things like screwdrivers.
Reference:
https://www.gov.uk/buying-carrying-knives