Hi,
Total newbie to VW's.
Just bought a 2004 Beetle Cabriolet.
Previous chap was driving along and completely lost power with no drive and car wouldn't then re-start.
Engine light isn't on.
AA man diagnosed cam-belt failure and towed it home
I bought it from the position it was left when dropped.
I've taken the plastic cam cover off expecting to see a shredded belt or the remains of one but the belt is completely intact. It doesn't look worn, but there again I would have expected it to be taut whereas there is about 1/3 inch movement. Turns everything over when the key is turned but there appears to be very little compression and the car makes no effort to start - the battery is a little worn down so I have tried boosting it on jumpers but this seemed to make little difference.
There is nothing tricky on the dipstick - no compression in the sump, no gunge on the oil filler or dipstick and there is pressure at the end of the exhaust when the key is turned indicating some compression through the exhaust ports.
There doesn't seem to be any untoward grinding or other clattering noises from the engine when it is turned on the key.
I'm a bit confused !!
Any thoughts?

IS it possible the tensioner has let go enough for the belt to slip and everything to drop out of sync without the belt actually letting go? Has anyone any experience of this type of situation?
I'd love it to just be a fuel pump or something similar rather than having to swap out engines but I bought the car on the basis it would need a replacement engine so anything less is a bonus !!

Appreciate any input or ideas.
Andy