Nice. Here is a list of mods I would do:
Firstly, get it really well cleaned. Polish it and wax it. Clean the interior and get some carpet floor mats, rubber ones are ghey. Then wash it religiously inside and out every week, keep all fluids topped up and so on. Look after it, it will look after you.
In terms of modifications;
Get Mk5 6n2 (that is a Mk4, or 6n) rear lights.
http://www.uk-polos.net/view ... =10&t=9117
Get clear side repeaters.
Get clear front indicators.
http://www.uk-polos.net/view ... =10&t=2148
Get a stubby aerial.
De-badge.
De-bump strip.
http://www.uk-polos.net/view ... 10&t=36056
Don't bother with any performance mods, IMO. It is a 1L and they will make f**k all difference.
Then there are other mods which you may want to do;
Get a Mk5 steering wheel?
http://www.uk-polos.net/view ... 10&t=42733
New speakers, head unit, and subwoofer, etc.
Badgeless front grille?
Replace the handbrake?
http://www.uk-polos.net/view ... 10&t=42369
De-rear wiper?
Footwell lighting?
New pedals, from an Audi TT?
Change the gear stick?
http://www.uk-polos.net/view ... f=10&t=319
Replace door pins?
http://www.uk-polos.net/view ... 10&t=36504
Replace the seats?
http://www.uk-polos.net/view ... 10&t=42268
Change the instrument cluster?
http://www.uk-polos.net/view ... 10&t=20428
If you want to spend some dollar, get some lowering springs/coilovers and some nice new alloys. But bear in mind that will mean spending £300 odd on alloyds and around £200 on coilies. It's up to you pal, but enjoy the car! I personally just got some nice wheel trims, as I cannot justify wasting £500 odd which is better to put towards a Polo GTi in the future.
They are great fun, and soon enough you will be looking for a Polo GTi!
(And go down to a local scrap yard if you want to replace the damaged body work, any spares, and so on!)