RAM and HD you could easily boost a fair bit, even new, cheaply (assuming the motherboard can handle larger HDs). Pity the CPU is P3 and not P4, otherwise you could still get a decent chip brand new, very cheaply. Instead have a look at the auction site, you might be able to do something impressive with the £100; I have a feeling this might involve a 2nd hand motherboard/CPU combo (you should be able to find a P4 - Celeron will do - for £30) with a gig of RAM (another £20) and another HD (£30 for a decent size). The PSU is probably ok ...
Edit: Just had a go myself:
LGA 775 for Intel® Core™ 2 Extreme / Core™ 2 Duo / Pentium® XE / Pentium® D / Pentium® 4 / Celeron® D, supporting Quad Core Kentsfield processors Intel® 865G Chipset Motherboard
with
PENTIUM D 925. SOCKET 775. DUAL CORE. 800FSB. 3.0GHz. 4MB CACHE
as a bundle = £35 (inc p&p)
plus
1GB DDR PC3200 DDR400 = £20 (inc p&p)
plus
Samsung SpinPoint P SP2004C 200GB SATA-II 8MB Cache - OEM (from OCUK because I got lazy) = £35 (inc p&p)
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