Although the boom section is different, it appears that you have Kenyon in boom reefing exactly like my boat. My boat is on the tender side and I often set my wind vane which needs good balance so I reef often. You can set this up so it is a snap and you'll find proper main size greatly increases the speed and comfort of your sailing.
First, the run of the lines and gear.
Your sail should have a short length of tape webbing run through each of the two luff reef cringles with a large ring sewn into each side. If it doesn't, have a sailmaker add them.
Hook the ring on one side into the hook on the gooseneck, stretch the sail back with the corresponding reef cringle, and put a piece of tape on the boom at the point where the cringle lands. You will need to decide which side you want the reef line to exit the boom so come back to this step later.
Install an eye strap on the OPPOSITE side of the boom about two inches aft of the tape mark and 1 - 2 inches down from the track. The reefing pendant goes up through this eyestrap and is secured with a Figure 8 knot. You can splice in an eye if you want a neater appearance. The pendant goes under and around the boom, through the cringle, back through the sheave in the boom end and then forward through the boom to exit the gooseneck on the opposit side from the eyestrap. The second reef pendant is done the same way in mirror image.
It looks in your pictures as though a PO might have brought the reefing pendants out through the side of the boom. Scrap this arrangement. It's dangerous.
The pendants come out through the gooseneck and around the sheaves. Remove or disable the lever cams (I see that's already been done in your case). They are a huge pain and you'll be constantly running back and forth. You can't get enough downward pull with this arrangement to reef easily. You should also contact Rigrite
http://www.rigrite.com (I checked and didn't see them on the SBO site. I think Rigrite makes them.) and get the covers that keep the lines from coming off the goosneck sheaves. Otherwise, they will jamb every time you go to un-reef. Look in the Kenyon In Boom Reefing section. You can simply remove the springs to disable the cams. If you remove them, you'll have to make a substitue axle or a spacer.
My pendants are led back to the cockpit and I highly recommend this. You often need the power of pulling from a standing position and it minimizes the time spent on deck or cabin top. If you have a cabin top winch you can lead the first reef pendant to, put it on that side. A line clutch works best for the reef pendants but a cam or regular cleat will also work.
You will need turning blocks close the aft base of the mast. An easy way to attach these is to used a slightly larger shackle (if necessary) to attach your vang to the mast bail and then simply shackle a block into it on each side. Locate additional turning blocks out to each side as necessary to lead aft. I have a third block rigged the same way for the topping lift which looks a bit kludgy but works great. An adjustable topping lift is an essential part of easy reefing so add this feature if you don't have it. Leading it aft as well is a great convienience.
Reefing:
Roll up the jib if you are shorthanded. It calms everything down and the boat may jog along unattended under main alone.
Snug up the topping lift and lower the sail to bring the cringle down enough to hook into the gooseneck hook. You only need to hook one side. Rehoist and tension the luff. I prefer my halyard winch and cleat on the mast instead of led aft to the cockpit because it make reefing much easier when sailing without a trained crew. Otherwise, the ring will pop out by the time you get back to the cockpit.
Slack off the boom vang and top up the boom so the end is about a foot above the normal position. Haul the reefing pendant tight and make fast. Slack topping lift and re-tension vang. The reef points only need to be tied for neatness so you can delay this step if you need to get on course again. They do help to flatten the sail slightly. Insert the points between foot and boom; not around the boom. It makes tying the knots easier.
Second reef is done the same way. You should have reef points of different color or different line type, 3 strand and braid, (for identification in the dark). Forgetting to untie one will tear your sail when shaking out a reef.
Tie in the reef points on a windward course with vang and sheet tight and then fall off if your course is in that direction. Having the sail full and boat steady makes this part much easier and safer.
Shaking out is easy. Untie the points. DOUBLE CHECK each one is free. Snug up topping lift, slack pendant. Then slack halyard just enough to unhook the ring and hoist. Over topping the boom a bit will make the hoisting easier.
That's all there is to it
