So you thought you could save money by buying on-line?

When buying on-line, you need to account for and additional cost of setup, the price you have £40 is the same as my LBS for a basic service, and I would consider them cheap for the high level of service they offer.

If you look at the Evans Cycles price lists online, this is the same for them, there is a breakdown of the work they do, remember they have to pay for the mechanics wages, lubericants, enviro disopsal, NI, rent, VAT, business rates etc, the list goes on.

If you have bought the bike form your LBS / physical shop, this first services would have been included in the price. (even if you buy on-line, and the retailers with an physical presence will normally give this to you for free as well for example Evans)