Fish mouth lugs without windows, braze-on pulley mount, and downtube Raleigh Sports decal all point to an early or mid 1950s bike. Check the rear hub for a date code. The front hub may also have a date code on it, given it is a dynohub. But early to mid 1950s seems right to me. The year graphic and tape stripes look aftermarket to me. The date appears to have been on there for quite awhile, probably worth leaving given how long it has been there. The fluted cranks with swaged heron chain ring are indicative of a mid-range bike.

This looks to me like a Model 21 drop-bar Sports in (now faded) crimson. The Model 21 was a mid-level bike with standard Raleigh tubing and lugs, but fluted cranks and drop bars. The fenders/mudguards stock would have been white-painted steel with wire braces, but an upgrade to celluloid was an option at that time. Decals were the "Raleigh Sports" type. Men's frame came in 21 and 23 inch type, and yours looks to be the 23-inch. Rims are endrick type box. Bars - hard to tell, could have been swapped. The drop bars in the catalogue look different from yours.