It's very easy to put the 'SNAIL CAM' upside down. Which will still work to adjust the chain but will have an adverse effect on the position of the rear stand in the up/riding position.
It's all in the workshop manual and worth getting one for all the routine maintenance procedures. Ron
I am afraid there may be more wrong than the missing screw which is horizontal as the diagram is rotated 90 deg.
Inside the hub should be a spacer adjusted by a nut with vernier pin, washer with corrosponding holes & a lock nut.
You will find the drawing in the technical section of this site.
Overtightening can put a small load on the wheel making it a little stiff to turn but if it locks up fully you have problems inside the hub which could cause the bearings to fail ( not funny )
And there is very little space so you need either the original BSA tool or a tube spannar to tighten / loosen them.
Sorry about the LH thread I should have mentioned it, having just installed new rear bearings myself.
There is also a hardened thrust washer that fits over the bearing carrier sleeve...If that's missing the wheel will lock up when the nuts are tightened.....
It's best to get the manual and parts list if you are unfamiliar with the bike...That way you'll have a chance of sorting it...
I believe Henk has them all on CD for a reasonable cost...Ian