This is a good start of an i5 build.
YOUR BASKET
1 x Intel Core i5-3470 3.20GHz (Ivybridge) Socket LGA1155 Processor (77W) - Retail £149.99
1 x Silverstone Grandia GD05 Desktop HTPC Case - Black (SST-GD05B USB3.0) £79.99
1 x MSI B75MA-P45 Intel B75 (Socket 1155) DDR3 Micro ATX Motherboard £53.99
1 x XFX Pro 450W Core Edition '80 Plus Bronze' Power Supply £39.95
1 x Scythe Shuriken Rev.B Quiet Low Profile CPU Cooler (Socket 775 / 1155 / 1156 / 1366 / AM2 / AM2+ / AM3 / FM1 / FM2) £27.98
Total : £366.00 (includes shipping : £11.75).
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The on-boards may struggle at flawless 1080p, but you can add a GPU to ease that. theres a passive 7750 that looks good, though it is near £100..
What does you budget look like?