The carbs are flooding. Probably due to dirt/varnish in the valve seat. When the previous owner tried to start Yellow TCT he said fuel was running out of the fuel pump (he miss took the anti run on valve for the fuel pump as I had him point it out what he meant). The car had been stored for 4 years so the gas in it was pretty old. The gas cannisters would be flooded as well. I don't know if they are recoverable as I haven't got that far. If your gas isn't old I would replace fuel filter and take of the bottom of the carbs to clean out any crud in the bowls, clean the valve and seat and adjust the float height.
If you don't have an OEM manual you can down load the pdf version from jaclay's website (don't bother with the Haynes manual). You can use the search function at upper right to see previous discussions on carb adjustments.
- - -TR7 Spider - - - 1978 Spitfire- - - - 1976 Spitfire - - 1988 Tercel 4X4 - Kali on Integra - 1991 Integra - Yellow TCT
