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All of the ragtops I've had have been the double-duck fabric type which need to be regularly washed and re-proofed to keep them watertight and supple. I don't know what they supplied from Dagenham but I doubt yours is still a factory top. Clean it and dress it before you think about folding. Companies like Woolies in the UK will advise and supply suitable products.
Once the car is back in service, put the top up when you put it back in the garage. Ideally, as DavidG says, a top will last far longer if never folded, but that's not why you buy a Cabriolet! Back on the day, many Model T owners never folded the top 'cos it lost the nice taut just-fitted look, but you get lots of fresh air in a T even with the top up.
BTW, my first car was a 38 Cabriolet. Loved it but I found it was like sitting in a tornado with the top down; if there was a speck of dust on the floor it would get flung in my eye. Something to do with the aerodynamics of the vee windscreen. I had a 39 Prefect Tourer with a flat screen which was comfortable at any speed.
Hope to see you at Gaydon All Ford Day next July.