The ward was created for the elections held on 4 May 2023 following a 2022 review by the Local Government Boundary Commission for England, which decided that the previous 30 wards each represented by three Councillors should be replaced by 64 wards represented by 85 councillors with varying representation by one, two or three councillors per ward.

[1] The ward boundaries follow Smithdown Road, Allerton Road, Rose Lane and the West Coast Main Line.

The ward includes, and is named for, Penny Lane made famous by the Beatles single of the same name.

[1] indicates seat up for re-election after boundary changes.

indicates seat up for re-election after casual vacancy.