As you have not included the prices in your quote it is difficult to suggest a comparison. Though I can say the CPU/motherboard combination is pointless as the K version of your CPU indicates that it is unlocked and can be over-clocked except that you cannot over-clock with that model of motherboard.
I would imagine that you will not be over-clocking as it is your first build.
Also your power supply is way over the top, 500W or perhaps 600W at the most is plenty.
I have managed to bring your PC specs in to around £289 by only a few tweaks. Lesser PSU, larger HDD, dropped the Arctic cooler as the stock one will be fine for the time being and this is is something you can upgrade in the future as funds become available.