I can think of a few possibilities, but they're only possibilities. One is that the PC is still good, but the ups is cooked, thereby not letting anything any power through to the PC. Don't know if you've tried hooking up the PC directly to the wall socket yet, so this is just a guess.
If there was a lightening strike or something similar, unfortuanately, that can overwhelm even a ups. I know, I had it happen once. Then my house insurance company paid for a new computer, TV, stereo and a few other electrical items.
There might also be a problem with the computer's psu. Some have fuses or circuit breakers that can be replaced or reset, or the on/off switch pops and just needs to be pushed to on again. Also, the psu might just be bad, while the components are still useable. Keep in mind that just because a fan or something on a psu works, it doesn't mean that enough power is being produced to start the rest of the computer.
Since you have two computers, if the components are interchangable, try taking them out of the non-working one and testing them one at a time in the working one. That should narrow down what's really bad and what survived. If they aren't, but you know of someone who has a similar system, try to do that with his.
Don't have any other ideas at the moment. Surge protectors, ups, etc are all good, but not perfect. Lightening and extreme power surges happen, and I don't know any real defense against them. Sorry about your loss.