Thanks guys for the replies,I have a cylinder hone so I may as well give it a go and see what happens,apparently the rings on the piston are new and as it never ran(there's absolutely no carbon on the top of the piston,its spotless)I think they should be ok to reuse.
The mower this engine is fitted to is a 24" slasher, I've not seen many of these over here so I'm keen to get it to run again as it will make short work of my large lawns.