I agree with all the comments in this thread, the site has so many areas it can be improved in that it really needs to be re-done from the beginning.
I'm gonna weigh in with my two pence, if anyone has anything to add or disagrees with anything I've said please respond.
1. Re-build your store in Magento - it's free!
And get a new payment provider. Either take payments on your site using something like Protx direct, or use a good payment/checkout gateway. Protx/Worldpay are good, as is Google Checkout.
This will make it easier for people to complete purchases. You don't need a merchant account for Google Checkout and only pay per transaction (3.4% + 15p).
2. Host on your own dedicated box (from about £30/month) - without decent performance you'll lose visitors.
The hosting will need to be configured for magento ecommerce but it will be well worth it.
3. Get a modern and effective design - Magento will automatically help with this, a lot of its features are geared towards easy shopping. Make sure the search is easy to find and use.
There are a few good free themes around and a decent design/development company shouldn't be too expensive.
4. SEO - and install Google Analytics (easy to do in Magento) and set up some goal and funnel tracking.
Even if you were to keep the current site this would be the first thing I recommend, funnels will allow you to see where your customers are leaving the site and so improve those areas first.
Also, your site has zero inbound links which will be killing its pagerank. Although pagerank is becoming less important it's still a big factor.
Magento handles a lot of SEO stuff automatically but you'll still need to fill in things like descriptions etc.
5. Adwords - who setup and manages your adwords?
You're probably paying for a lot of clicks that will never convert (result in a sale).
When combined with Analytics you can quickly refine your campaigns but you'll still need to pump a couple of grand in initially over the first few months to get a good idea of what sort of market is available to you.
This increased traffic will also help with the funnel analysis.
6. Prices, delivery and promotions etc. - Emphasise that your products include VAT, make delivery either free or free if they spend over a certain amount, run promotions on certain products that people may buy together.
Remember, if your competitors aren't doing this you'll be beating them, and if they are you need to do it to keep up.
7. FUDs - Fears, uncertainties and doubts - how much is delivery, are my card details safe etc... buyers need reassuring so your design should alleviate their fears
8. Checkout - Golden rules are NEVER force a customer to register with you to make a purchase and let the customer know how far they are through the process.
9. Testing - Once the site is working better, do multivariate and split testing to improve the site.
I hope this gives you a good idea of the directions to take your store, and best of luck.
Now for the shameless plug - if you're serious about the site then send me a PM, we can cover all of the above (and more)