Well it wouldn't run without the key in the "lights" position so I dug in with the multimeter and found two wires on the wrong terminals of the key switch. It now fires up on either position, the lights work and it switches off with the key. Winner.
Apart from the kick stand being too short ( I forgot to allow for tyres lol) and another tack needed on the seat stem.. it's finished. Ladies and gents I give you... The Skip Rat.