There isn't much information about the Raleigh "Ltd-3" model on the Web. This is partly due to the fact that it's really just a feature-challenged Raleigh "Sports" model. When my wife and I came into possession of two Ltds, I thought it might be worthwhile to take some pictures and share them.
The Raleigh Ltd-3, an Economy Version of the Sports
The Ltd doesn't have mounting points for a pump (or the pump), nor did it come with a saddle bag. The tires are all black rubber not gum wall. Instead of the leather version from the Sports, the Brooks saddle on the Ltd is an economical, albiet fully sprung, vinyl model. The headlight bracket, also standard on the Sports is conspicuously absent. In some years, the Sports came with self-adjusting brakes. The Ltd never did. However, the frame, hubs and wheels and all other parts of the Ltd are common to those that you find on a Sports that was made at the same time