Hey Josh,
I've just bought one of these aswell but im still waiting for mine to be delivered
i bought a singlespeed kit from superstar components for £10: http://superstar.tibolts.co.uk/product_info.php?cPath=58&products_id=265
i went for the 18 tooth because everyone recommended 22:18 gearing.
it looks like a good kit for the money you will probably need a chain tensioner aswell, althouh some people ive noticed dont run them on phase 1.2's, not quite sure how.
if you can find someone to help you fit it as it will be alot easier
hope this helps,
Jed