Hi Nobby,
It should concern you a lot!! you have a carb flooding problem and it is all running back into the cases through the inlet.
You need to fit a filter in the fuel line to avoid future problems and for now you will need to clean out the carb imaculately in the float needle area.
With new builds it is common to get bits of fibre glass and debris from the tank.
Cure the flooding and you will be OK! make sure the crankcase is clear until you develop some confidence in the carb! Too much fuel in the cases and you could get hydraulic lock which will be a mega damage disaster.
Good luck
Alan