You can't record drums with one mic, well you can but the results won't be great. For £100 though you could get 2 x Behringer C1's and a cheap dynamic. That would give you 2 x overheads and a kick for simple recorderman type drum tracking . SM57's are good as close mic's on drums but no good for the rest of the kit.
The cheap dynamic would be ok on guitars or dirtyish vocals and so would the C1's.