Valve lash is an important part of engine longevity. Ideally you want just enough of a gap to satisfy an nice oil film but not too much as to act as a little hammer beating the crap out of you're valve train. Setting tappets cold is a known constant (temperature around 20degrees Celsius) and good enough for these little engines. I'm surprised the engine is 'ticking' We're mostly assuming it's the valve train, it could be something else, only way to determine is check the gaps correctly, there's a few vids on youtube showing the correct way to check, have a look at red beards garage videos, I'm sure he's uploaded one for engine building and includes valve lash checks.