The Easter Road boss signed two new faces and managed to agree extended deals with Leigh Griffiths, Jorge Claros and Ryan McGivern during the transfer window.
He revealed, though, that the club will not be breaking the bank to sign players who have been released or come to the end of their contracts in recent days.
Fenlon said: “I’m delighted with what we have. The fact we’ve been able to add to the three loan players is fantastic. Unless someone wants to do what David Beckham has done and play for nothing, great. But we are where we are financially. We’ve got our budget and we try to live within our means and will continue to do that.
“In relation to anybody else coming in, free agent or not, it’s not going to happen.” One player who had been linked with a return to Easter Road was Kevin Thomson after the midfielder’s contract at Middlesbrough was terminated by mutual consent.
However Fenlon reiterated: “Every ex-player that seems to come on the market is linked about coming back.
“Kevin Thomson is going to have plenty of options I would think. Financially, we’re not going to be in a position to do anything else.
Fenlon, who admitted that he is looking for improvement from his side following the defeat to Ross County in midweek, has doubts over Tim Clancy but McGivern should be fit for selection.
He doesn’t expect Done to start against Aberdeen tomorrow, although he could be involved in the cup tie at some stage.
And Fenlon added: “We need to see where Matt is in training, it has been a hectic 24 hours so we’ll judge that.
“I’m not sure he will come in and start the game on Sunday, but we’re hopeful he will be part of the squad.
“We were disappointed the other night. A lot has been made of our league form, I don’t think it’s that bad. If you look at the games we’ve lost it’s been by the odd goal. Attacking-wise, we need to be more adventurous and more precise and quicker in our movement.”