I need to generate a custom button through code, this is how i am currently doing it.
-(void) initialiseButtons
{
int ypos = playerImage.frame.origin.y
Personally, I would subclass UIButton. Despite all the talk that you can't subclass UIButton, Apple even talks about subclassing UIButton in the UIButton documentation.
In the subclass I would create a UIView with the two labels (or images or whatever) and add them as subviews to the button (be sure to set interactive for the text and view as FALSE).
What is awesome about this is that it leverages the UIButton code and keeps you from reinventing the wheel.