100% because the boiler hits the flow temperature. It seems to vary +/- 5C either side of the set point. For whatever reason, it occasionally fired up, and the flow temperature started rising, but I could hear the boiler modulate back, and the flow temperature then only crept up very slowly, until it hit SP+5, at which point the flame extinguished until SP-5, then fired again. It just seems on some fires, the boiler couldn't modulate down quick enough and hit SP+5 very quickly causing the cycle.
And just to be clear, it's definitely a flame/ignition cycle, as the boiler showed that the heating demand was "on" the whole time, indicated by the radiator icon on the front display of the boiler (which also shows flow temperature in use).