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@Celadon
£20-40 is just a bit ambitious, it would cost £30-50 just to get a cheap fixed rear hub and get it laced it to an existing wheel in a shop, that is if you bought/found a cheap road bike.
I would say find the old road bike, find a rear (2nd hand/cheap) track wheel for sale = cheapest plausible option. no?
bike £20-40 (or free from a relative etc) + rear wheel £30-60 if your patient on t' Bay.
...that is unless you can build your own wheel.
It never work like this though, I'm always like 'maybe I'll just replace the cranks too, and maybe the seat, and maybe the...' etc etc... but that's me