However when the relevant switch (either away or party mode) gets turned on the system does not enter the correct mode. All time based modes are working correctly and as expected. Any ideas as to what I am doing wrong?
Going forward please use screenshots for logs, not copy/paste.
So what is the problem you are having? Your logs show you Away Mode switch causing it to go to Day mode, which is what you've selected. You probably don't want it doing that twice (but that is harmless), for both on and off. And there's no point in using the switch to set Day mode when it's already Day mode (but that's harmless).
I was in day mode at the start and was hoping that by setting the away switch to on I would go into away mode and when the away switch was turned off I would go back to the current mode.
That's not how you have it setup. Notice that the row where you set that up is called "Return from Away". You need to add Away mode so it has its own row, and put the on switch setting there, and the off switch setting where it is now.