I'm hoping it just means it needs a service and nothing severe?

Yep it's auto matic, it's either set to monthly intervals or mileage. You re set it using one of the stalks

Looks like the service indicator light mate.....better get it booked in

To reset hold the clock reset button then turn ignition to on and hold for ten seconds until it clears

I wouldve guessed it was short for inspection, do you have an owners manual?

I don't know my car was a cat D when I bought it so came with a key and a v5 lol

I'd seriously recommend you download a copy of the car's handbook, it's available here:

https://mediaportal.skoda-auto.com/resource/documentation/manuals/en/Fabia/04-2010/Manual/A05_Fabia_OwnersManual.pdf

Cheers for the manual but mine is a mk1 06 plate

try this:-https://mediaportal.skoda-auto.com/resource/documentation/manuals/en/Olders/Fabia/Manual/A04_Fabia_OwnersManual.pdf

Whoops should of read the chassis code properly! My bad