Diferent Gouglers put the code in diferent places. Most often it’s on the shackle, in early cases on the “under” side of the shackle at the top. In quite a few cases the available known code lists have holes in them.
But locks that were made in a group for a school or factory seem to use codes that were separate, and probably spelled out in a codebook that was supplied to the buyer, and for these the “standard” codes do not work. There may be a code on the shackle that describes the combination, plus a code on the body that is like a serial number for the lock (and could be used to track it back to the owner or locker).
In the current example it was stamped on the back of the lock and was a standard factory code (or close enough).
BTW I ran across a YouTube video showing the demolition of the Kent factory buildings last year. Search for “gougler demolition” without the quote marks.