Poof = gay man (nice Monty Python reference there!)
Spliff= spliff (some common ground!)
Fag = cigarette
Fanny = vagina
Wanker = generally abusive term - wanking is masturbating (jerking off) so I guess it translates as 'Jerkoff' (we also use 'Tosser' in this regard)
Bollocks = Balls
Usage of the word bollocks:-
"That's bollocks" or "That's a load of bollocks" = That isn't good or that's rubbish
"That's THE bollocks" = That's great! - we also say "That's the nuts" or "That's the dogs bollocks"