Sorry - I wasn't clear..
Yes I tried "/cms/cms_images/" and "../cms/cms_images/".
This is where I am now.
The config.php file is amended at lines 124/5 as described.
(As an aside I don't think that having purchased the software I should have to be changing source code like this).
WA_Globals.php is: $WAGLOBAL_remoteRoot = "/cms/";
Setting $WAGLOBAL_Images_Folder = "../cms/cms_images/"
inserts "../" into page code and images don't display in IE (as described in previous).
Setting $WAGLOBAL_Images_Folder = "/cms/cms_images/"
inserts "//" into code and places images in "http://www.mysite.co.uk/cms/cms/cms_images/"
(the directory didn't exsist and was created automatically).
Setting $WAGLOBAL_Images_Folder = "cms/cms_images/"
appears to do the job in PCMS - the correct code (src="http://www.mysite.co.uk/cms/cms_images/image.jpg") is written however the file is actually located at "http://www.mysite.co.uk/cms/cms/cms_images/" on the server.
Now strangely the image displays correctly in Firefox but not in IE. The source code is as above but the image doesn't exsist at that location. If I copy the url from image properties in the browser and paste it into the address bar I get a page not found error (as I should).
Why is Firefox displaying an image correctly when the code points to the wrong location? (I cleared the cache).
My next move is to move the destination folder for the images out of the /cms/ directory and see what happens.
***Edit*** When I say 'appears to do it's job - the image appears in Image Properties when using Firefox, but in IE the image is not displayed - just the red 'x'.