Dish used by Penny after the usual time (5)
I believe the answer is:
plate
'dish' is the definition.
(I know that dish can be written as plate)
'by penny after the usual time' is the wordplay.
'by' says to put letters next to each other.
'penny' becomes 'p' (short for pence).
'after the usual time' becomes 'late' (I've seen this before).
'p'+'late' is 'PLATE'.
'used' acts as a link.
(Other definitions for plate that I've seen before include "This glass is thick as for shop window" , "Shallow vessel" , "Shallow dish" , "that batter will stand on" , "Cover with metal" .)