The transformer has a 240V primary and has a secondary rated 24V at 2A. The bridge rectifier contains 4 diodes, their current rating needs to be high with respect to the transformers output current; if not the current may damage the diodes. I used MR751 which is rated 6 amps, but another good choice is 1N5400. C1 is the mainfiltering capacitor, the supply is further smoothed by the combination of L1 and C3. C2 and C4 are decoupling capacitors; their action further reduce ripple factor.