What does the court say? Would it be possible to provide a copy of the decision?
As there is EC legislation in regards to age discrimination, has the national court been asked to make a preliminary ruling procedure in order to get the case tried before the European Court of Justice? I think that the ECJ is generally quite sensible.
Is there any scope to go to the European Court of Human Rights?
This requires that all measures to get the case tried at a national level are exhausted, which isn't the case if you don't appeal but have the chance to. Furthermore, it will probably take about 5 years to get a ruling from the ECHR or even more.
Is £20,000 a minimum even if you ask them to give less time on the case even if it decreases your chance to win?