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@Rew
Here is the latest update. I have retaped the bars that came with the bike and replaced the brake levers with cannondale bar end levers. I have also refitted the original cranks and 52t chainring after cleaning them up. I have polished up one of the wheels so far and also fitted new tyres.
As you can see this is a cheap build and I think the net cost of it will be about £60. I'm selling all the surplus parts on ebay.
Next step is new brake cables, refit the (now white) brakes, polish the other wheel, 18t sprocket and spacers and then take it out for a spin....