Hi folks, thank you all for your info. I took on board your advice, Ttaskmaster and Barkwindjammer.
I then looked in my manuel and studied the wiring loom and eliminated what was working and what was linked to each working component and got it down to, as you suggested, the starter switch, cut out switch and starter relay. I asked my BF to open up the starter and cut out switch clamp on my handle bars and after evicting my resident little spider and her web-house and nest of soon to be children, which saddened me greatly, checked the wiring and all seemed ok except for many years worth of accumulted debris.
He sprayed inside with some electrical cleaning spray, for good measure and blasted some compressed air in there and then sprayed it again and hey presto....after flicking the cut out switch up and down a few times, it worked. Put it back together and all is good now. The fault was the cut out switch!!!! with bad connections. So glad I didn't go out and buy a reg/rec. Phew!!!!!