so does this mean that it is beyond repair?
Nope, just replace the motherboard and you can be up and running in no time.
However, before you do that, fully diagnose the problem by disconnecting everything connected to the system except cpu, ram and video (if you can't use the igpu). If you still have the error, remove the ram down to the bare minimum and then completely. Make sure the error messages are consistent with what they should be for a lack of ram, etc. I would also try completely clearing the cmos as a corrupt bios could do this as well.
Then after all that, I'd look for the same motherboard on ebay and get one and swap it over. Then start up the new mb with the same basics--cpu, ram, video--and make sure it boots properly. Then add storage and other devices until you are back to 100%.