OK, so it is getting fuel. Is fuel fresh? Is it the same fuel you used with your other engine?
It is A timing issue? Unless a magnet has fallen out I dont think so. (new engine remember) Edit. HMmmm could be,,, need to check destructions.
Spark, still to be determined,
Ignition battery?? 4.8v or 6v Tom,, is it charged? We do have a LED saying the ignition is on. (in picture)

Just thinking out loud here,,, come on guys we can nail this.

Cheers,

Brad