Hi I'm new to this, so please be gentle. 
O have a 2008 Fabia 2 1.2 petrol. 
it has developed this noise which I am not sure about and also an intermittent oil light every couple of days. 
Does any body have any ideas? 
Thank you. 

Blimey, that's a racket, it definitely sounds like the top end, I suspect low oil pressure is responsible, you need to get an oil pressure gauge connected instead of the oil pressure switch and log the oil pressure at various RPM.

You have low oil pressure, the chain is suffering due to low tension. As the oil pressure warning light is coming on you should not drive or run any further as you risk/creating rapid engine damage.

 

Is this the 1.2htp 3 cylinder engine?

 

You need to check oil level, and replace the oil filter which may be blocked and check the 2 small o rings on the plastic central partof the plastic filter cap that goes through the filter are still there and in good condition. Items 16 and 17 in the diagram below. Without those small o rings, oil pressure is compromised.