Hi guys, Ive just bought a Ragu 01 projector and a £50 Aldi Envivo audio sound bar which is only 120 watts. I'm wondering can

Solution
Yeah, shouldn't be a problem at all.

Audio is still analog in the vast majority of cases, and can simply be split using Y splitters. You can split it at the speakers using wire, at the source using a 3.5mm splitter, or anywhere in between using RCA splitters.

greens

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Yeah, shouldn't be a problem at all.

Audio is still analog in the vast majority of cases, and can simply be split using Y splitters. You can split it at the speakers using wire, at the source using a 3.5mm splitter, or anywhere in between using RCA splitters.
 
Solution
I don't think the projector has an audio output.
You can use an HDMI input selector with audio extraction
http://www.monoprice.com/Product?p_id=5557&kpid=105557&gclid=CPPY2sLnwcYCFYIXHwodhY0FTw
to provide an audio output for both the soundbar and old stereo.
Usually when you try to mix audio gear that isn't meant to be used together it doesn't work well. No harm in trying it but since the output of the switch is fixed level you would have to change the volume of the soundbar and stereo individually. Not convenient. Just use the one that sounds better to you until you can upgrade your audio.