I would like to recommend the shimano XT2500 mini baitrunner but its a little out of your budget at around £90, but guess what, they do a ST FA version at around £50 and its not a bad little reel for the money, in fact its a cracker!!
mark
PS: Take a look on the harris sportsmail web site, they do free postage and the service is superb!!!
forgot to say, keep away from shaky and michell reels they are not very well made and you will be lucky if you get a season from them!
don't be fooled into thinking michell reels are the same as those from years ago, they are not in the same league!!