Hi Chris
I can find a couple of options - you'll have to be looking at either used or third party for £150 though.
The
Metz 36 AF-4 comes in Pentax fit and only costs £60-£70. Then there is the slightly more expensive
Metz 48 AF-1 which is £175 which is over the budget.
Sigma do make a flash to fit but it's £200 (for info it's the
EF 530 DG).
I don't know how much you know about flash (if you're like me then not a huge amount and want to have a go!) but comparing the Metz 36 AF-4 with the cheapest new Pentax own flash (the
AF 360 FGZ) there isn't much in it. They both have the same guide number so the Metz is just as powerful as the Pentax. The Metz supports P-TTL (the pre-flash based TTL metering that all modern Pentax's use) and there isn't much difference as far as I can see.
If you want some more info, a useful Pentax P-TTL flash comparison article is
here and if (like me) you get confused between A-TTL, P-TTL, i-TTL etc then have a read of
this forum post at DPReview.