It still seems to work ok, however when you touch the side its red hot!?

That’s your oven.

Isn’t that how fridges work? The hotter it is outside, the harder they have to work & therefore their nuclear reactors have to work harder? I am however thinking back to 1994 when I was at school, so I could be totally wrong.

yes it is… 🙂

I think you are eggsagerating a triffeling matter, or at least milking it for sympathy.
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On a more serious note, if the light stays on when you shut the door, then yes it is about to explode.
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Was this your flat?

Chutney explosion

There is a gas in the fridge R134a , freon or something. When compressed it turns into a liquid and gets hot , the heat from this is dumped ( normally out the back ) via along thin metal cooling coil.
When the compressed liquid is de-compressed it goes through change state cooling and goes cold. The cold liquid runs around inside your fridge , making it cold. There is a small orofice valve that lets the liquid through slowly and lets it expand.
This is a very basic description of a fridge.
No the sides should not be hot, but the back should be.
Maybe pull the fridge forward and remove all the dust thats on the coil

What’s a fridge gong ?