My First Project- What bike is this?

Thanks guys. Yeah I was joking about skipping it, but that is a valid point. It will be worth me experimenting on it so I can get a good idea about how to reconstruct a bike. I don't want to be messing about when I do get my hands on a really nice frame.

Thanks very much for all the comments, I knew you guys would have the answer.

Translation:

It was still in the skip this morning... ;-/