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"We took a snapshot of your site and tested on our local server. We failed to reproduce the issue. We had another client that complained about this not so long ago. We recommended him to upgrade the php version to the latest and it helped him. Please consider contacting your hosting support department and asking them to upgrade the php version."
The hosting company I use is EUKhost with a reseller account, and the PHP version is 5.2.5 (cli) (built: Jun 27 2009 22:30:27)
So as I keep asking them....
This still does not address the issue as to why it was working perfectly on the existing version of PHP untill 4-5 days ago.
What has made the script demand such an amount of memory. Particularly just the admin login function.
Thanks yet again