My 1989 998cc Mini 30 is broken

The top end is bone dry, and one of the rocker arms has cracked into peices and come off.
There is plenty of oil in the engine, but there is back-firing through the carb, and a loud knocking noise when driving.
I have a replacement engine in my garage, however I have been told I could just swap the heads....
Would this fix the problem?
Thanks, adam.