Thanks for your feedback so far, I have checked the frame over for cracks etc especially around the BB and the HT areas. All seems fine thankfully.

The main thing that's causing me confusion is the rainbow stripes just the colours Red, Orange, White... No yellow stripe! I'm not looking to do a 100% accurate restore on the bike however it has got me curious with the rainbow stripes, as the all the bikes I have seen with these rainbow stripes from ~1985 are white, yellow, orange, red etc...

Edit!
The forks on auchencrow's Raleigh are a bang on match from what I can see.