Yes it is correct, I have a photo of the underside somewhere. This aircraft was originally one of the cannon armed Spitfire Mk Ibs that were combat tested during the Battle of Britain. At this time it had the underside of that wing was painted black with the yellow outer band on the roundel.
Since the Hispanos were so unreliable in the Mk Ib they were withdrawn from service and put into storage only to be rebuilt in 1941 as Mk Vbs. During the rebuild, the black wing was repainted Sky but the yellow roundel band was left for some reason.