I remember them well, despite growing up in a land which had a decimal currency. (100 cents to a shilling)
The notes were marked "20 shillings or one pound", but the shillings were the official value.
Interestingly, the one cent, five cent and ten cent coins had holes in the centre, so that they could be strung together and worn. (for carrying.) Long after the one cent coin (purchasing power = 1/2000 of a pound.) had ceased to have any purchasing power there was still a great demand for them. The central bank therefore did not withdraw them from circulation until it finally realised why demand was so high. For only one shilling one could buy 100 high quality, rust proof washers for nailing down corrugated iron roofs, etc. A hardware store only supplied 25 brass washers for the same price!

interesting. In Canada now, there is no longer a penny in circulation. Pennies are no longer accepted anywhere. When making a purchase, you simply round up or down.