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Are you asking if you are liable?
This is a private land fine. There is a good of nonsense on the internet about private land fines. The truth is that they always did have a perfectly valid claim in breach of contract against those who do not pay or park at variance with their terms and conditions. The issue was that it was not very cost effective for them to sue. It still is not.
They used to sue almost nobody but they are becoming more aggressive now largely because they have lost control of the industry and can only regain it by suing those who don't pay. The chances that they will sue remain very low though so the risk is not great.
If they do sue, you can plead your case and may well win. If you don't win then you will only be liable for the sum of the fine plus about £25 in court costs and £55 in fixed solicitors costs. If you pay it off within 28 days of judgment then it will not show on your credit file.
You do have the option of putting them to proof on the adequacy of signs though. That may well succeed.
Alternatively, you can offer them £10 in full and final settlement. If they cash it then there is a pretty overwhelming argument that settles the claim.
Can I clarify anything for you?
Refused to pay and been sued and lost.
I would never use their appeals system. I have never heard of them finnding in the motorists favour and they have no power anyway.
I know they do say that but I've never known anybody.