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@hugo7
Call me judgemental, but if the OP is having problems spotting the difference between cantis and calipers I think a semi-custom from Condor is a wiser move than building a new bike from scratch... Esp if that kinda money is avaliable.
@ amey - for >£100 I'm sure there are plenty of ppl on here who'd help you build a bike.
As for tools, the only really tricky bits would be bottom bracket and headset. Everything else is pretty straight fwd and can be done with a £30 tool kit - half of which you'll use again.