this is one of the best sites for magnetos...
http://www.brightsparkmagnetos.com/ there is a LOT to learn if you want to live comfortably with a lucas magneto...
they can be a total mystery compared to modern systems...almost witchcraft...but once worked out...they will keep sparking into the next century...
for a start...check the plug gap and point gap...are your plug caps non resistor...wires ..solid copper core?? the points to points plate.. oil...corrosion...?? centre screw contact?? new non resistor plugs
a spark across a .010 plug gap..is fine ...but needs to jump near 1/4 inch to start a motor... what I do with a spark plug... is break the earth electrode off...and see if the spark will jump across the gap to the threaded bit..thats nearly 1/4"... needs to do that to run your engine...you are aware that turning over without a plug in (both leads) ...will still produce a spark...generally it sparks to earth back at the weakest part of the coil...burning a hole through most expensive part...
I have a brightspark condenser in my K2F ... turned a completely dead magneto into a good reliable one kick starter...and great runner....50 BSA A10...install took maybe 45 minutes start to finish...
folks seem to winge about these lucas things...but all of my cars trucks , bikes with modern ignitions...and from 7 to 40 years old...all have had most ignition components replaced... my 50 _80 year old magnetos....sometimes just a good clean....sometimes a condenser
good luck with it
and pick up a set of B.A. spanners
or you will be looking for B.A. nuts.. which are even harder to get than B.A. spanners