The problem is solved, thanks for the help!
If you look at this link http://directxtk.codeplex.com/wikipage?title=WICTextureLoader&referringTitle=Home it is saying "The module assumes that the client code will have already called CoInitialize or CoInitializeEx as needed by the application before calling the WIC loader routines" so all I had to do was to write "hResult = CoInitialize(NULL);" before I used the WICLoad function.
http://msdn.microsoft.com/en-us/library/windows/desktop/ms678543%28v=vs.85%29.aspx
Just writing this incase somebody else encounters the same problem and happens to come across my thread.
Regards!