My impression is this is a junior frame made for 24" wheels. That's just a guess...hope to be wrong unless it's what you really wanted to buy.
Edit: Raleigh also offered junior framed bikes with 26" wheels, depending on the frame size. Here's a link to Mark Bulgier's site that has several Raleigh catalogs, but nothing I see that's exactly like yours:
http://bulgier.net/pics/bike/Catalogs/Raleigh83/