I am sorry, I didn't know most of you were in the UK, but thanks everyone for your replies and I did check on the derailleur and I have no problem putting money on this bike ONLY IF ITS WORTH IT!!, I know it has sort of good stuff on it already.
Reverse shocks 300
Thomson seat post
Ritchey stem
Fatboy handle bars
Italia seat (I know needs I new one)
Double wall wheels 400 dls according to bike store
Shimano xt brakes
I only paid 50 dollars for the bike and I can put some cash into it if it's worth it,
eBay has the same bikes for over 1000 dls but I don't see them actually been sold so you can ask all you want but I need to know if I am going to waste my money on this bike or is it ok to put like around 400 to 500 into it on set of crank, gears, tires, derailleur etc or buy another bike?