Here's what I'm using to get the signal to the monitor;
Master System has scart out, which I plug into this little adaptor, allowing S-Video out.

From there, I have the cable split off, into Luma & Chroma which are plugged into the correct slots of the board, and I have terminator caps on the unused ports.

However when I turned on the Master System and the BVM, all I got were these images;


I know for sure I've got something wrong, probably in the way I'm trying to hook it up to the monitor maybe? I've checked all the settings as best I can, but I'm finding it difficult to find much information, I've followed Sony's guides on how to set it up from years gone past.
But any help from you guys would be appreciated, although I do have to go to work soon, so I might not be able to reply for a little bit!
Thanks in advance!