Like skidpan says, it decision time....
If two cylinders are down on compression then the likely culprits would be the valves being burnt out. I've seen this many times on the 3 cyl 1.2 engines, not so much on the 1.4's but having said that, it'll make sense seeing as the car was laid up SORN for a while, the valves may have not so much stuck open, as has been mentioned in an earlier post, but not being able to fully close, causing the hot exhaust gasses to slowly burn the seats over time. Once this happens the only course of action is strip down, repair or replace I'm afraid.
One final, last ditch attempt would be to check the valve timing. If it's slipped there's the possibility that the valve overlap could cause low compression as they may not be fully closed on the compression stroke, but that's really clutching at straws. Also, if that's the case, the valve seats will be burnt by now anyways.
As I see it, you have 3 choices :
get it repaired ( not a nice financial thought this close to Christmas )
SORN it till you can afford to repair it
sell it for spares/repair
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