Took the car to a VW dealer in Northern Ireland (as UK warranty isn't covered in Rep. of Ireland!!) 2 weeks ago to get the knocking checked out. The mechanic said it didn't sound right, which I already knew.
Got the car back yesterday, They replaced the timing chain, pulley and camshaft (as thet rung a bolt on it)
The noise is now gone and the car is running perfect and sounds like a proper Gti!! Delighted......