".....Am i right in thinking that if i go to 'My Computer', the recovery partition would show there?"
Not necessarily as it may be hidden. However, if there is a recovery partition then you'll be able to see it in XP's Disk Management Console:
Type diskmgmt.msc into XP's Run box then click OK. When the console opens you'll see the netbook's fixed disk along with all its partitions. If apart from C: you see a relatively small one, perhaps with no drive letter, then it's probably the recovery partition