Yes, Michael,
Your bearing sleeve has been fitted from the wrong side of the hub. The collar (with the holes) should be inside the brakedrum. With regard to Steve's comment that the sleeve should have a hex head - Mr Douglas made 2 types (they are interchangeable) - one had the hex head, the other just had 2 flats. If you try to unscrew the collar, be warned - it has a left hand thread!
Regards,
Eddie.