Well, it's taken a few days to find the fault, but i've finally tracked it down. But why is it always the last thing to try?! lol
First of all I removed the headlight and disconnected everything that lurks within the headlight cowl, cleaned the contacts and applied some ACF-50 before re-assembling.
But alas no spark.
Swore at the bike, had a cup of tea and considered having another go the following day.
The next day I had a rummage behind the the left-hand side cover, and did as mentioned above. Still nothing. Stared at the Newtronic electronic ignition switching unit for a bit and wondered if that could be the culprit.
A bit more swearing, more tea (this time with some biscuits), and thoughts for the next day.
And on the 3rd day, took the fuel tank off and checked connections to and around the coils. Still nothing.
But whilst the side cover was off and I was pressing the starter button, I tapped the Newtronic switching unit with my finger a few times and the bike fired up and then cut out.
Aha!
So I removed the Newtronic switching unit, took it apart and look what I found...
Front of the Newtronic switching unit:

Rear of the switching unit:

After removing the outer rear cover, and revealing the inner plastic cover with some tell-tale brown marks in the bottom left corner:

After removing the inner plastic cover and revealing the circuit board and frazzled components in the bottom left corner:

Close-up of the frazzled components:

I'm going to get in touch with Newtronic and see if they can supply a new board or the just the components that need replacing, unless there's an electonic wizard on here who knows better and can help.
In the meantime, I think i'll put the contacts back in so I can use the bike.
Thanks again for all your thoughts and ideas. It helped to get my confidence up and get working on the bike.
I'll let you know how I get on.
Time for a cup of tea now.
And some cake :-)
Cheers chaps,
fred