Hi Dimsei
having the 40/80 numbers allows you to work out the 110 degrees but you have that too.
So, you need to set the camshaft position, so the position you need is the point at which the inlet valve on cylinder 1 is maximum open, this is done with a dial gauge, once you have set this you will need to rotate the crankshaft so that the crankshaft is 110 degrees after top dead center.
this is at the point in the cycle where the inlet valve is open the most and the piston is going down sucking the fuel air mix into the cylinder.
if you look at KENT cams main web page and scroll right down to a section where it says updates(or something like), a few items into this there is a video of vulcan engineering setting the camshaft timing a very slightly different way but you can see how the dial gauges are used, its being done on a single overhead cam engine similar to yours.
remember never force anything as you may be bending valves or something like.
Tim