Morning all!

Well just had a quick once over the car wondering about the smoke on hard acceleration and saw to check the inter cooler hose, which I did and found this (and a whole lot of oil everywhere!)

Any suggestions to whether this has been bodged, or what i would need to do to fix it ?

Looks to be a failed turbo seal/bearings if that oil is coming out from inside the intercooler pipe and not tracking down from outside (unlikely).
You need to check for play in the shaft of the turbo which means removing the air intake pipe (between the turbo and the air cleaner). Once removed check for any free play by wiggling the central shaft side to side, given the amount of oil that's present it should be pretty obvious if it's knackered.
For example this one is totally :

Some play is acceptable as the 'bearings' on the turbo are actually an oil film so there is a clearance to accommodate the oil but excessive play means it's worn, oil will leak out past the seals and you need a new turbo.
Here's an example of acceptable and excessive play:

You will also need the intercooler cleaning out.

Thanks for your reply will look into this.

Weird thing is my oil level hasn't gone down in 2000 miles. Noticed today the pipe may be slightly dodgy.

Also noticed one of the oil lines connected to the turbo is leaking at the banjo bolt  

How many miles has it done, turbos do sweat a bit of oil in the boost pipes, this is the lowest point on the system, if it's been blowing there for a while it will be a bit oily. Maybe take the pipe off and have a look to make sure there's not loads of oil in there, fix the leak take it for a blast see how it is

It's done 141,000, but this was my thoughts to try the pipe first