Not at all. Its a very common mistake and TBH, most MKII's do not have their intermediate sprockets in the right place. They just re-adjust the timing as it's easier. The intermediate sprocket drives the distributor and the oil pump.
Rotate the engine to NO1 TDC. Remove the distributor cap and the rotor arm should point to a notch in the distributor body. If it doesn't, turn the dizzy until it does and see if it starts. When you get it started, get the timing done as per Rub Jonnies set up guide in the maintenance section.
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It's what he said!^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
mine was out too