It is an offence not to produce your driving licence, certificate of insurance and MOT certificate when requested to do so by a police officer.
The HO/RT1 'producer' is to your benefit, even if incorrect details are present, allowing you 7 days (usually) to appear at the nominated (or any other) police station with the requested documents. If this is done and they are in order, then that is the end of the matter.
You will be reported for failing to produce the documents at the time of the request for production. If you fail to produce the documents within the 7 day period or they are not in order, you will be summonsed to attend court.