OLD UK Lighting Live wire in neutral, how is this working? is it safe?
It'll still work - a light bulb doesn't care which terminal is live and which is neutral - it's just a dumb resistor. Generally speaking however, the socket in which you put the light bulb should be designed such that the live terminal is harder to reach / harder to accidentally touch, than the neutral terminal. Since you have the ceiling rose open already, you might as well swap them to the correct configuration (your second picture).