The term 'Pound Parts' refers to two units of measurement used in the imperial system. The first is 'PENCE, ' which is a unit of currency in the United Kingdom and other Commonwealth countries. It is equal to one-hundredth of a pound sterling. The second is 'Ounces, ' which is a unit of mass or weight in the imperial system. It is equal to one-sixteenth of a pound. Together, these two units make up the term 'Pound Parts.'