How do I fix a F-01 fault on my Hotpoint Ultima 1600 washing maching?

My WT761P Hotpoint Ultima 1600 washing machine has suddenly stopped operating.
When the start button is pressed, instead of the machine filling up then running through the full wash/spin cycles it merely takes in water for 2 or 3 seconds then empties the little water it has taken in. A whirring sound then continues (presumably the motor) but no more water is taken into the machine. F-01 is then displayed. The machine then does not respond to pressing either the off or start buttons. The machine can only be switched off at the wall switch.
The machine is only two years old (June 2006) and has been very well cared...Any assistance with solving this problem will be greatly appreciated. One day it was working fine the next it wasn't!