Thank you, first I want to check if it will output to an external display to rule out any damage to the LDVS connector/cable (I am waiting for a mDP adapter in the post). The card is definitely inserted correctly, I have reset twice now and it is snugly in there.
However I am unable to see the diagnostic leds (see here for more details of my issue
https://forums.macrumors.com/threads/help-me-work-out-what-ive-done-to-my-imac.2244904/) - I must be looking through the wrong place, but the diagnostic manual says you have to look through the lower vents next to the RAM, but it is very difficult to see and I can't really work out how many lights there are there! At least 2 though, possibly 3?
I don't have the skills to fix the logic board, and it is probable not economical to repair. And to be honest I can probably buy a 2010/2011 iMac with a broken GPU for pretty cheap, and transfer the insides (SSD, RAM, GPU) to the new iMac, sell the bits of my old one (LCD, PSU, CPU, etc) and it might not cost me very much in net terms.
Once I've ruled out LDVS issues, I will take out the iMac apart and send you a picture of the board - I don't have a magnifying glass or an iPhone 11 but I will try my best...