Well, it now all depends on whether you want to take them to London Tribunals or not. If you do, obviously the full £160 is payable if you lose, but no more than that, there are no additional costs. And of course if you win, you pay nothing.
It seems to be a key point is that the council have erected warning signs on Warner Road , but not Valmar Road. So the council have accepted the need for advance warning of the restriction, but have for some peculiar reason, not put warning signs on Valmar Road.
Essentially, Southwark have sent the usual Fob-Off letter, with the cunning re-offer of the discount, knowing that with this offered, most people then cough-up.