BEGIN {
    RS="\n\$\n"
    FS="\n"
    ORS="\n$\n"
}


/£/ {
    sub(/sweet /, "", $1)
    sub(/£.+/, "£", $1)
    print $1
}

!/£/ {
    print $0
}

$ awk -f my-awk your-file-to-process