Early 2011 Macbook Pro shows grey screen at boot then restarts constantly

Hello Macbook community,

I have an early 2011 Macbook Pro and have already had the dreaded logic board replaced under Apple's program which has now expired. Recently it started crashing when I open either iMovie or Photoshop then has a hard time rebooting. The boot sequence is as follows:

• boot sound
• type password
• loading screen
• grey screen with fans screaming
• crash and reboot

I have tried SMC and VRAM reset and all the suggested stuff, the only thing that works is constantly attempting to reboot then after hours I finally get back in.

Today I had a crash report for the first time which reads as follows:

Any help is much appreciated!

Many thanks