Bit confused?!

It's probably on a couple of mm out. It's pretty close. I'm having to use the inner ring on the chainset that I have, so I'm running 42/16 rather than 52/20. I'm just trying to keep the cost down as low as possible, so all I've bought to convert the bike is:
2nd risers = £5
track cog = £12
lock ring tool = £10 (although not really a cost to the bike as it is a tool that will last forever!
1/8 chain = £9
pedals/cages/straps = £7
pair of blizzrd sport tires = £18 ( got them in Sheffield so they're rather cheaper than London!
Total = £61 (inc. tool)

Not bad to completely convert a 22 y.o. Peugeot into a fixie!

p.s. although I could do with some new forks that will allow me to barspin

10 hours gone by and I've already got me some new forks :-)