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@TW85
I reckon for that much you could build an alright bike. I was lucky, I got a decent-ish 80s peugeout for £30
mine WAS going to be <£100, but new tyres kind of pissed all over that a bit, and now my BB has started making funny noises so I think it's time to look at that too. (if I can get it out of the frame) this is where it probably begins to cost
All I need is a rear wheel now, if anyone has a cheap-ish one or would like to swap for a really shiny Super Champion front wheel, that would be awesome