The wires appear to be connected right, but you do have too much copper showing on the red wire. I would check the connections with the mains off first.
I would also check the instructions of the new light, as often they have a daylight sensor, which means it will not work in daylight. I would also ask is/was the light controlled by a switch or fused connection unit, I am wondering has the fuse blown.
If you still have no joy, take the light down and fit a 13A Plug to it, and plug it in, and switch on, if after altering any "controls" it has it still does not work, try another socket, if still no joy send it back.
If it does work, put it back outside, and switch on the mains and see what happens.
Thank you for your reply, I have managed to sort it. The problem was that I had put the red cable in the middle which was marked as earth I changed it to the one at the end and it started working :) thanks again.
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