.. Except many thanks! 
I approached Sky as I used to be insured with them on my previous REV5 Turbo and was surprised to receive a high quote!
I spoke to Craig Seager, from the outset and he explained that as I hadnt been driving any MR2s for a while let alone a beastie like JimGTS car, thats why the underwriters had come up with this amount
Needless to say that I then shopped around and my current insurance on our Rav4 gave a very competitive quote but when looking at the finer details it transpired that my mods would only be insured on a like for like, if I could provide all bills and receipts for every mod on my 2!
This is where SKY came up trumps, I emailed Craig and he called me back on over 10 calls, answering my questions, allaying my fears and further confirmed that all my modifications would be insured without receipts, but so long as I could provide photo's etc of them, they'll be covered!
Good job jimGTS was so meticulous in his charting of his 2's history and the mods installed
(Jim took photo's of the HKS Cams!), so I will in due course have the photo proof I need 
The long and short
(after this verse ) is that SKY looked after me, asnwered all questions professionally and are for me, my preferred insurerWell done Craig and Ollie for helping me along and sorting out my insurance on my new beastie.
p.s
Just go to wait for my Dad to recover from chicken pox, so that I can get my car from his garage! 