Thanks for the tip. Does this sound like valve issue to you? With the back firing and white smoke?
This must be getting pretty frustrating.
If everything ' mechanical ' is OK, as has been discussed, timing, valve clearance etc, then time to look elsewhere.
You have a spark, so the only thing left is fuel.
How clean in the fuel you are using ?
Pour a little petrol into the inlet (not to much), then start the engine, it should run OK until that fuel has gone.
If it's still back-firing and spluttering, try another new spark plug.
If the problems still exist, you are doing/have done something wrong.
Just a final reminder, the valve your adjusting must be
fully CLOSED.