Is it that obvious? Where is the money?

Public Inspection of the Statement of Accounts 2004/2005

As you can see from the letter, the income from Penalty Charge Notices AFTER they became aware that they did not have lawful authority to be issuing them is £630.
There is an admission that 78 tickets were issued after November 2003.
There has been a separate admission that 38 of these were paid.
If we believe that everybody paid immediately at £30 per ticket that comes to £1140...only £630 has been admitted to being entered into the accounts.
Where is the rest?