In reply to samsimpson:
First have a good look at your bike and see what you actually need. I'd avoid the cheap all in one kits for 2 reasons - for 27 quid it will be shit quality and you end up with loads of stuff you don't need - for example I can't remember the last time I used any kind of spanner on my bike. Haven't touched a tyre lever for years either and as for those giant headset spanners??
I've built my kit up over the years and here's what I have:
Set of Park allen keys with handles - £40, expensive but last forever.
Cheap Chain whip < £10
Casette tool - £12 with handle (I have both Shimano and Campag)
BB cup wrench - came free with my cranks but can be bought for a tenner.
Small screw drivers for mechs - B&Q
Chain tool - Park £12
Cable cutters - B&Q
Pedal Spanner - Park £10 or optional if padal has hole for 8mm Allen key.
Spoke key - couple of quid
I also built some wheel jigs from an old alloy frame and forks I had - works a treat.
Two climbing slings from a joist in the garage serves as a great alternative to a workstand.
One thing I might invest in is a decent torque wrench to prevent people stripping saddle clamps and stems when they adjust my hire bikes
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Cheers
E