And before you rip the engine apart slip the top cover off and remove the flywheel bolt / nut and washers.
Have a close look at the slots for the flywheel key.
If they do not come together to form a perfect square, pull the flywheel & replace the key.
Sticky valves can cause backfiring through the exhaust and through the carb.
Slipping flywheels can do exactly the same thing.
In any case if you have never adjusted the valave lash it probably needs to tbe done.
You can also have both problems as the backfires can cause enough of a jerk to split the key.