My first pc build c.£550 budget

Solution
How about this build? It's got better CPU cooler, mobo, GPU, case, RAM and PSU.
PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-8320 3.5GHz 8-Core Processor (£99.54 @ Aria PC)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler (£24.19 @ CCL Computers)
Motherboard: Gigabyte GA-970A-UD3P ATX AM3+ Motherboard (£65.40 @ Amazon UK)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1866 Memory (£59.44 @ Ebuyer)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive (£35.94 @ Aria PC)
Video Card: MSI Radeon R9 280 3GB TWIN FROZR Video Card (£159.99 @ Ebuyer)
Case:...
How about this build? It's got better CPU cooler, mobo, GPU, case, RAM and PSU.
PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-8320 3.5GHz 8-Core Processor (£99.54 @ Aria PC)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler (£24.19 @ CCL Computers)
Motherboard: Gigabyte GA-970A-UD3P ATX AM3+ Motherboard (£65.40 @ Amazon UK)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1866 Memory (£59.44 @ Ebuyer)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive (£35.94 @ Aria PC)
Video Card: MSI Radeon R9 280 3GB TWIN FROZR Video Card (£159.99 @ Ebuyer)
Case: Corsair Carbide Series 300R Windowed ATX Mid Tower Case (£63.52 @ CCL Computers)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply (£46.36 @ Amazon UK)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer (£10.09 @ CCL Computers)
Total: £564.47
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-10-06 12:59 BST+0100
 
Solution
Thnx for the reply ,this build looks great but will the hardware suffer with the power supply at 550w? Other than that it looks much better.. do you have any experience of running a pc with similar parts?if so would I need to overclock to play ps2? Thanks for yr help
 
I actually meant to post the list with another motherboard, i've updated it now with the other motherboard. That system will be fine with a 550w PSU. I don't play ps2 and my system is pretty different, but I think it should play ps2 pretty will without an OC.

This is another option that going to give you much better gaming performance although it is not overclockable.
PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4690 3.5GHz Quad-Core Processor (£154.39 @ Aria PC)
Motherboard: ASRock Fatal1ty H97 Killer ATX LGA1150 Motherboard (£55.99 @ Amazon UK)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1866 Memory (£59.44 @ Ebuyer)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive (£35.94 @ Aria PC)
Video Card: MSI Radeon R9 280 3GB TWIN FROZR Video Card (£159.99 @ Ebuyer)
Case: Corsair 200R ATX Mid Tower Case (£42.99 @ Ebuyer)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply (£46.36 @ Amazon UK)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer (£10.09 @ CCL Computers)
Total: £565.19
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-10-06 13:12 BST+0100