Hi guys I appear to have found the culprit but need help in deciding my next steps.
The problem is the PSU, in fact the CPU 12V 4+4 that HiVizMan pointed out, are completely fried, the plastic bits on the connectors have actually melted, hence the CPU LED and therefore the insufficient power and freezing, and it appears that the plastic from the connectors is now wrapped around the connectors inside the motherboard.
I have attached links to the pictures, sorry for the quality I had to zoom in quite a bit just so it was visible on the camera.
Image 1(4+4pin connectors burnt)
https://www.dropbox.com/s/sgwdtnpdzpya4gz/MoboConnectorsBurnt.pngImage 2(Motherboard connectors wrapped in plastic)
https://www.dropbox.com/s/7z9lnjfwjwrh0s2/MOBO%20Burnt.pngIm not entirely should what I should do at this point, I have a new PSU coming anyway so that is that problem solved, but what about the damage to the motherboard, is it irreparable?