Buying a tool kit

I got one of these http://www.chainreactioncycles.com/ie/en/x-tools-bike-tool-kit-18-piece/rp-prod40997 I haven't handled many tools in my time, but the ones in the tool kit seem good quality to me.

Read good things about this kit on the internet.
I'm a noob who plans convert his 70's road bike to a SS. Wonder if this kit will be useful to me. Or maybe it is an overkill for such a small job?.. Already some home/car tools and a IceToolz 16 multi-tool.
I own no other bikes at the moment.

Any recent recommendations on a good all-rounder that doesn't break the bank? Must be suitable for Shimano HG, and not be made of cheese.

Better off buying tools individually, as you need them.

Any kit that "doesn't break the bank", will be a compromise of price over quality and you'll almost certainly be paying for tools you don't need.

IMHO/YMMV etc

I started out with this a few years ago:

It was second hand off gumtree, otherwise it would have been a bit pricy. Since then have been adding to it like scilly.suffolk suggests..

Presumably you have the basics (Allen keys,various spinners, screwdrivers etc) covered?

I'd echo folks suggestions and just buy what you need. From memory when I did a similar project to you I bought a chain breaker, pedal spanner, headset spanner, dremel (works well for cutting cable housing), bb tool and crank puller. Don't be tempted to go too cheap or you'll buy replacements in short order. If you're doing your first conversion why not try a public bike workshop? That'll give you a good idea what you need for the next one.