I don't know this particular camera, but generally the sprocket wheel limits the transport by counting holes. On many cameras (including most 35mm SLRs) the sprocket wheel turns along with the takeup spool when you wind the lever, and you should see this when test-winding with the back open. There are some cameras where a sprocket is turned by the film passing over it, and when the sprocket has turned the correct number of teeth, it latches and stops the film transport. (For ex, most single use cameras work that way.)
My other comment is that you have a light leak between the frames. It goes into the rebate, the edge of the film, so it is coming from behind the film rather than through the shutter. I would check the light seals at the back, especially at the ends near the hinge and the latch end.