Neil,
As Jason says, a woodruff key provides no retaining of the pulley, it only provides a "drive" between the shaft and the pulley.
You're going to need some other method of fixing the pulley in place, that all depends on the set up that you've got.
I've got a Suffolk engine,probably 1960's, we used to rebuild them years ago, they made a 75cc and a 98cc, same block bored out bigger,
Richard