Is it local to you?
Like everyone says, rust's the biggest bugger with MK1s. 120,000 miles is a pretty reasonable mileage, and it's a good sign that it still has its tool kit and owners manual.
I don't know how Irish "NCTs" work, but I'm guessing it should probably say September 2011 rather than 2012? Either way that's a good length.
If you can get to it easily enough I think the best advice is just to go and see it and inspect all the usual locations of rot - there's a really useful buying guide here:
http://www.challoner.com/mr2/tech/mk1bg.html
Hope that helps a bit!