Thank you so much Vardhaman!
I followed all steps in order as the first did not resolve the situation...right to the end...undeterred this is what I did (hopefully it will help others)
1) Followed all of your instructions
2) Checked Smart Audio (control panel/hardware & sound) audio director (3rd tab on bottom) was switched to 'Multi stream' and tested it...I HEARD TEST SOUND *BUT* still no sound from video media
3) Went into Sound/playback - found I now had headphones on the list with a green tick. Tested the speakers bit and again heard the test, but still no sound from video media
4) Returned to sound/playback to see the headphones had a green tick, but not speakers - sorted that, tested, went to video media and HEARD THE VIDEO!
I have no idea which bit of all that did it, but your help got me sound back, and I thank you most heartedly for that!
Hope this thread helps someone else!
:)