There were some obvious problems:
1. The CODEC socket was broken, so I desoldered and replaced it, checked all the traces against a working Falcon that I have.
2. A broken CAP 100uF 16v CAP by the reset switch - removed and replaced with new same value cap
3. The 1uF 50v CAP also by the reset switch had a +10 35v cap piggybacked alongside it, so I removed both and replaced them with a single new 1uf 50v
You can see some photos of the board prior to my fixes


So now I fitted a known working power supply, keyboard, floppy drive and memory module and hooked it up to my VGA monitor.
When I power it on I get the following signs of life:
1. Fan spins up
2. Keyboard power LED comes on.
3. Floppy drive makes a brief noise
But I'm not getting any display.
So what would be my next thing to check/replace?
Thanks in advance (of course if anyone thinks they can fix it for a reasonable price then please PM me).