I've recently started producing my own radio show and the studio that we broadcast from is moving from a 5 minute walk away to a 30 minute bus ride away.

Ideally I'd like to continue and home produce but have none of the prerequisite gear to do this, I'm guessing I need audacity (which is freeware) a half decent microphone, a mixer and if I'm getting extravagent some over ear headphones. I'm on a strict budget here, I don't want to spend any more than £50-75. Any reccomendations?