The basic idea is that a bunch of British podcasters put a five minute segment together and these get put together into a single show. I contributed my five minute segment last night which I'll link to as soon as the main show has come out (I don't want to spoil the fun). I'll syndicate the show through my feed as soon as it appears.
While you're over on the site, please check out some of the other fine British podcasters. This is a great site, put together by Neil Dixon of the "a minor technicality" podcast.
This is fun. Check it out and listen to some fine British accents for a change.