Soldato
You are going to end up spending £1000 on parts and still have a run of the mill bike.
If you are determined to upgrade then wait until a component breaks then replace it with something better. If you are serious about taking this bike off road on proper trails then I imagine the first thing to go will be those wheels, followed by the fork, then drivetrain and brakes. You are going to waste a lot of money upgrading/replacing these as they break, instead you save that money then you could buy a used bike of a much higher spec.
Example costs:
Shimano SLX groupset - £300-450
Rockshox Reba RL - £190-250
Superstar wheels - £200
Wide bars, headset and short stem - £100
Which is the guts of £800 on fairly entry level parts. Or you could listen to everyone else and save that money and buy a decent bike with all the components already on it like this one http://www.pinkbike.com/buysell/1769529/
Couldn't have said this better.
OP - Nobody is having a dig at you, we've all been there with <£250 bikes one time or another.
For comparisons sake, when I was in my late teens, my parents bought me a £200 GT Palomar. Over the next few years, I upgraded pretty much everything on it, spending several hundred quid.
I eventually reached a point where I realised that the upgrades I had made were the price of a decent second hand bike, not worth a fraction of what I'd paid for them if I wanted to sell on and generally not the best of ideas.
Ride your bike for now, enjoy what it can offer you and sure, upgrade your pedals and grips, but don't bother spending big on handlebars, wheelsets etc. as you may as well put that money into savings and buy a whole different league of bike when you're ready for something better. There's nothing worse than ploughing hundreds of pounds into something that ends up sat in your shed or doesn't make your riding any more enjoyable.
If you're looking for some suggestions for grips - look at the ODI Lock On range. You'll be able to transfer these to a new bike and are about £20.
Suggestions for pedals? Something like the DMR V8's for £25.
Tyres, you're looking at spending at least £30-40 per wheel for something half decent.
Just so you're aware, adding the above up, that's roughly £150, nearly the price you paid for your bike.
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