This is pre decimal money. Now we have pounds sterling and pence, and like most places there's 100 pennies to the pound. The symbol for the pond is £ and the penny p. Shortly after introduction the pennies were referred to as new pence but not any more.
Prior to decimalisation we used LSD, or pounds £, shillings, s (or /-), and pence, d. There were twelve pennies to the shilling and twenty shilling to the pound meaning there were 240 old pennies to the pound, so conversion wasn't straightforward.