What you need- a very basic list.
Somewhere to sleep: Where will that be? You don't need cribs or moses basket etc, you just need either your bed (co sleeping- perfectly safe but do look it up. Helen Ball has done some great sleep studies so start there) or a normal, full sized cot. The basic Ikea one is great and cheap.
Something to catch poo and wee. Nappies. Not too many newborn size as they grow out of them fast! Cloth is much cheaper in the long run and you can get everything you need preloved for very little money. Find your local FB selling pages, see if there are parenting specific ones and hang out there.
Something to eat- if breast feeding just some lansinoh for your nipples, a couple of nursing bras and some breast pads. If bottle feeding then an ice cream tub and a pack of milton tablets for sterilising plus some bottles and formula. Don;'t buy bottles and breast pump "just in case" if breast feeding. If it doesn't work out for you then get what you need then. If you want to express to give yourself a break then you can hand express (kellymom website great for tips on all aspects of breast feeding) and cup feed the baby using an ordinary cup.
Something to wear- get to Asda or Sainsburys for good, cheap clothes. 10 bodysuits, 10 sleepsuits, 3 cardigans and 2 coats will do you. People will buy presents and online shopping is great! Get 0-3 size which is bigger than newborn. If your baby is tiny then someone can always nip to the shops to get you smaller clothes, if your baby is average then they may look a bit big for the first 2/3 weeks but then he will grow into them and he won't care if they are big! If he is big then they will fit right away.
Some mode of transport for a car- Get the best carseat that you can afford. Never second hand unless you know for certain that is ha not been involved in a crash, don't take the word of a stranger for granted. If a family member or friend you trust has one then great but the lifespan of a seat is 5-8 years as the plastic deteriorates over time so even a seat with a clean history may not be safe if it is old.
Mode of transport for outside the car- pushchair or sling. Not a highstreet carrier but a proper sling. THe best way to investigate slings is to see if you have a sling library near you so you can try out different kinds before you buy. If you want a pushchair then go to a big shop and play wiht lots. Don't get a big heavy travel system as you will be cursing it when the baby is a 10 month old elephant. Get something that is easy to store, easy to use (reclines and sits back up easily, wheel lock turns on and off easily, brakes are good) and that doens't cost the earth. Chances are when teh baby is older you will ditch it and get a stroller anyway.
Toys- all babies are different. Some will be happy to be put down and to watch you for entertainment. If you have one of those then you might want to get a bouncy chair to pop them in and a mat they can play on with a few cheap toys like rattles and stacking cups, bits of ribbon, scrunched up balls of foil, wooden spoons (much of this comes later, around 3/4 months, before then all they need in their life really is you and milk). Some babies are like velcro and prefer to watch the world from your arms. This is where a bouncy chair and stuff would be a complete waste of money and you will need to refer to the above about slings in order to save your sanity.
That's about it. Babies can use your bath, you have to hold them in a baby bath anyway! They can use your towels rather than needing baby ones, people will buy clothes, more teddies than you know what to do with and other toys and you can pick bits up as you go along in charity shops etc.
Don't bother with books. Your baby won't have ready them.