I think I am missing something obvious here folks - I have created my own Content Type with a Text Field, I then set the Default Value of the Text Field, then Translate it from my default language (English) to my other languages by going to:
Administration » Structure » Content types » CONTENT-TYPE » Manage fields » FIELD-NAME » Translate (other Languages) » Field Instance
It allows me to set Default Values for the other languages (great), then I create some content (in English) and Translate - the field only shows the English Default Value. The labels all get translated correctly.
Where am I going wrong? Many thanks in advance for your help.