beta rider

I require some advice! I own a 2004 rev 3 which I have owned since new and have used about 12 times. While I was out practicing the bike died and I later found it would'nt produce a spark. I've tried all the obvious things like changing the spark plug and checking electrical connections. I've contacted Lampkin imports and he has sent me a new CDI unit and stator plate to swop with the ones on my bike under warranty. Having removed the flywheel and changed the stator can anyone gave advice on how to set the ignition timing? I presume it is via the small hole on the fly wheel and stator plate. Thanks, A frustrated beta rider.