Penny after fighting found buckle (4)
I believe the answer is:
warp
'buckle' is the definition.
('warp' can be a synonym of 'buckle')
'penny after fighting' is the wordplay.
'penny' becomes 'p' (**).
'after' says to put letters next to each other.
'fighting' becomes 'war'.
'p' after 'war' is 'WARP'.
'found' acts as a link.
(Other definitions for warp that I've seen before include "Pervert - distort" , "Buckle" , "Go out of shape" , "Make or become out of shape" , "Distort, twist" .)