SharePoint 2010 error ID 3 web Host Failed to Process a request

We have a SharePoint 2010 Server with the following error message, however I cannot see where the issue lies, I have checked the Service account which looks fine Checked SQL priveledges and they look fine, any help would be greatly appreciated at this stage as we cannot use Sharepoint at all, there must be a permissions issue as I cannot even access the site via Sharepoint designer

WebHost failed to process a request.

Sender Information: System.ServiceModel.ServiceHostingEnvironment+HostingManager/17653682

Exception: System.ServiceModel.ServiceActivationException: The service '/SecurityTokenServiceApplication/securitytoken.svc' cannot be activated due to an exception during compilation.  The exception message is: Method not found: 'System.String System.ServiceModel.Activation.Iis7Helper.ExtendedProtectionDotlessSpnNotEnabledThrowHelper(System.Object)'.. ---> System.MissingMethodException: Method not found: 'System.String System.ServiceModel.Activation.Iis7Helper.ExtendedProtectionDotlessSpnNotEnabledThrowHelper(System.Object)'.

   at System.ServiceModel.WasHosting.MetabaseSettingsIis7V2.WebConfigurationManagerWrapper.BuildExtendedProtectionPolicy(ExtendedProtectionTokenChecking tokenChecking, ExtendedProtectionFlags flags, List`1 spnList)

   at System.ServiceModel.WasHosting.MetabaseSettingsIis7V2.WebConfigurationManagerWrapper.GetExtendedProtectionPolicy(ConfigurationElement element)

   at System.ServiceModel.WasHosting.MetabaseSettingsIis7V2.ProcessWindowsAuthentication(String siteName, String virtualPath, HostedServiceTransportSettings& transportSettings)

   at System.ServiceModel.WasHosting.MetabaseSettingsIis7V2.CreateTransportSettings(String relativeVirtualPath)

   at System.ServiceModel.Activation.MetabaseSettingsIis.GetTransportSettings(String virtualPath)

   at System.ServiceModel.Activation.MetabaseSettingsIis.GetAuthenticationSchemes(String virtualPath)

   at System.ServiceModel.Channels.HttpChannelListener.ApplyHostedContext(VirtualPathExtension virtualPathExtension, Boolean isMetadataListener)

   at System.ServiceModel.Channels.HttpTransportBindingElement.BuildChannelListener[TChannel](BindingContext context)

   at System.ServiceModel.Channels.BindingContext.BuildInnerChannelListener[TChannel]()

   at System.ServiceModel.Channels.MessageEncodingBindingElement.InternalBuildChannelListener[TChannel](BindingContext context)

   at System.ServiceModel.Channels.BinaryMessageEncodingBindingElement.BuildChannelListener[TChannel](BindingContext context)

   at System.ServiceModel.Channels.BindingContext.BuildInnerChannelListener[TChannel]()

   at System.ServiceModel.Channels.Binding.BuildChannelListener[TChannel](Uri listenUriBaseAddress, String listenUriRelativeAddress, ListenUriMode listenUriMode, BindingParameterCollection parameters)

   at System.ServiceModel.Description.DispatcherBuilder.MaybeCreateListener(Boolean actuallyCreate, Type[] supportedChannels, Binding binding, BindingParameterCollection parameters, Uri listenUriBaseAddress, String listenUriRelativeAddress, ListenUriMode listenUriMode, ServiceThrottle throttle, IChannelListener& result, Boolean supportContextSession)

   at System.ServiceModel.Description.DispatcherBuilder.BuildChannelListener(StuffPerListenUriInfo stuff, ServiceHostBase serviceHost, Uri listenUri, ListenUriMode listenUriMode, Boolean supportContextSession, IChannelListener& result)

   at System.ServiceModel.Description.DispatcherBuilder.InitializeServiceHost(ServiceDescription description, ServiceHostBase serviceHost)

   at System.ServiceModel.ServiceHostBase.InitializeRuntime()

   at Microsoft.IdentityModel.Protocols.WSTrust.WSTrustServiceHost.InitializeRuntime()

   at System.ServiceModel.ServiceHostBase.OnOpen(TimeSpan timeout)

   at System.ServiceModel.Channels.CommunicationObject.Open(TimeSpan timeout)

   at System.ServiceModel.ServiceHostingEnvironment.HostingManager.ActivateService(String normalizedVirtualPath)

   at System.ServiceModel.ServiceHostingEnvironment.HostingManager.EnsureServiceAvailable(String normalizedVirtualPath)

   --- End of inner exception stack trace ---

   at System.ServiceModel.ServiceHostingEnvironment.HostingManager.EnsureServiceAvailable(String normalizedVirtualPath)

   at System.ServiceModel.ServiceHostingEnvironment.EnsureServiceAvailableFast(String relativeVirtualPath)

Process Name: w3wp

Process ID: 5908