The singular cot from Ikea costs just £30 (mattress £10 - I got mine free cos the man at the till thought it was included hehe!) It is made out of umm, light wood (colour and weight) and is just as good as other more expensive ones. Their base is easily adjustable to two positions and is so simple to put together I did it myself! There is a whole matching nursery range available but I cant comment on those.
I would definitley recommend this to other parents.