Sad News and expense.

[RecordAceFromNew]

Holding the inflated wheel while stepping on the spanner has worked for me so far, but it is certainly not as educational and probably less safe than your suggestion Pete...

 

[BluesDave]

Well I took the bike into Holdsworths for their advice on what needs to be done. That bike shops been there since 1927 so they must be doing something right and their repairs have to be booked 3 weeks in advance. I needed them to have a good look at the damage and tell me exactly what needs to be replaced.
The chap had a good look and he noticed that there were broken teeth on the jockey wheels, the front chain wheel cogs had worn down and some of them were chipped and obviously the rear 5 speed freewheel as well.
I explained that I had already purchased a chain and was awaiting it's delivery. He told me to buy the lot online and fit it myself or it would cost a fortune.
So this is what I'm thinking of getting. Now the bikes a 15 speed so am I right;

http://www.ebay.co.u...=item4aab3ed990 This rear derallieur should have two jockey wheels in it AKA little cogs.

http://www.ebay.co.u...=item3a6bfd1ca2

http://cgi.ebay.co.u...em=220702684018

http://www.chainreac...ductDescription Now bearing in mind that this is a 15 speed bike I have no idea if this is the right chainwheel/ set for my bike. It certainly seem to be the only 3 cog chainset within my budget which is up to £20 for this particular part.

As for gear cables I assume any will do but even after 14 years on my bike mine seem to be okay I think it would be a better idea to try and remove them though.
I'm sorry to be such a pest but I really need these parts to be right as I now face the terrifying prospect of fitting them all myself.
I'm going by all the advice so far in choosing these. I just need to be sure then I might be able to have a good idea. I've got the removing tool thingy already.
I'd like to get another 14 years out of the bike by doing this, it's my friend.

 

[PpPete]

Well I took the bike into Holdsworths for their advice on what needs to be done. That bike shops been there since 1927 so they must be doing something right and their repairs have to be booked 3 weeks in advance. I needed them to have a good look at the damage and tell me exactly what needs to be replaced.
The chap had a good look and he noticed that there were broken teeth on the jockey wheels, the front chain wheel cogs had worn down and some of them were chipped and obviously the rear 5 speed freewheel as well.
I explained that I had already purchased a chain and was awaiting it's delivery. He told me to buy the lot online and fit it myself or it would cost a fortune.
So this is what I'm thinking of getting. Now the bikes a 15 speed so am I right;

http://www.ebay.co.u...=item4aab3ed990 This rear derallieur should have two jockey wheels in it AKA little cogs.

http://www.ebay.co.u...=item3a6bfd1ca2

http://cgi.ebay.co.u...em=220702684018

http://www.chainreac...ductDescription Now bearing in mind that this is a 15 speed bike I have no idea if this is the right chainwheel/ set for my bike. It certainly seem to be the only 3 cog chainset within my budget which is up to £20 for this particular part.

As for gear cables I assume any will do but even after 14 years on my bike mine seem to be okay I think it would be a better idea to try and remove them though.
I'm sorry to be such a pest but I really need these parts to be right as I now face the terrifying prospect of fitting them all myself.
I'm going by all the advice so far in choosing these. I just need to be sure then I might be able to have a good idea. I've got the removing tool thingy already.
I'd like to get another 14 years out of the bike by doing this, it's my friend.

Freewheel - a 14-28 like this would give you a wider range of gears.
Rear derailleur - youre linky no worky so I cannot see what you are looking at. Does bike have a derailleur hanger or does the derailleur bolt to the axle ?
Front derailleur - are you sure you need top pull ? many old bikes are bottom pull - what tube diameter do you have?
Chainset - your link is for individual chainwheels (despite the pic) which almost certainly will not fit your cranks,
if you want a new chainset - this is about as cheap as they come.
Edit on chainsets ... soz I was thinking road, just looked again at OP to see you are MTB. These are not half bad.

 

[RecordAceFromNew]

Freewheel - a 14-28 like this would give you a wider range of gears.
Rear derailleur - youre linky no worky so I cannot see what you are looking at. Does bike have a derailleur hanger or does the derailleur bolt to the axle ?
Front derailleur - are you sure you need top pull ? many old bikes are bottom pull - what tube diameter do you have?
Chainset - your link is for individual chainwheels (despite the pic) which almost certainly will not fit your cranks,
if you want a new chainset - this is about as cheap as they come.
Edit on chainsets ... soz I was thinking road, just looked again at OP to see you are MTB. These are not half bad.

+1.

Additionally to avoid potential problems further down the line the OP should also check a couple of things first before ordering the chainset,
a) is the existing bottom bracket ok (no grinding feel, noise or looseness when the chainset is spun preferably with the chain not on it - i.e. chain resting on the bottom bracket shell), and
b) if the existing bb is square tapered and ok then he should check that the existing chainset has the same bb requirement as PpPete's amazing £14 find - guesstimate MIGHT be possible with the precise make/model code stamped on the outside and inside surfaces of the crankarms, but the only certain/reliable way to find out is to remove chainset (which needs to be done anyway if replacing) and measure the bb. Removing a square tapered chainset requires a removal tool. I am mentioning this only because IME quite a few older bikes have e.g. 128mm square tapered bb's, and with that chainset they will deliver an extra 8mm chainline which will likely cause difficulties with pretty much any front mech.

If the existing bb is worn and/or requires replacing simply to allowing fitting an otherwise incompatible chainset then it would be necessary to find out exactly what tools are required and potential difficulties for removal given some are tough to remove even with the right tools. To get an idea remotely requires good close-up photos of the beast on both drive and non-drive sides.

As the chap in Holdsworth said, if the whole drivetrain needs replacing then a shop will likely be charging a lot. However with careful component selection the parts need not be costly, nor is the exercise necessary difficult - provided that a little luck is on the OP's side so that he does not have components that are inherently difficult to remove (such as certain freewheel or bb), and that the replacement is done with care*.

* square tapered chainset removal using the above removal tool requires some care - many, myself included , have stripped crank threads using precisely such a thing.