Thanks for the help everybody.
Id done as everybody said to no avail, but found a few people from another website had the same problem.
Turns out it is a new virus, which my virus scan isnt picking up despite being constantly updated, which affects IE and also adds favourites to youre list as well as flagging up a "runtime error 5" message everytime you restard PC.
I was advised to download "cwshredder" which immediately searches for IE virus's, and it deleted 3 things as well as something like 20 registry values...so if anybody else has the same problem, point them towards that
Thanks though.