A bit of a mystery post... I recorded this strange track off the John Peel show back in 2001, and an internet search reveals nothing more than what is detailed on this page which lists the playlist for that night (15th Feb 2001). It doesn't seem to be any of the Lockjaws listed on Discogs, or anywhere else. (UPDATE: it would actually appear to be Lockjaw (10) on Discogs, who have an earlier CD on the same label from 1998, from which John Peel also played a track.)
The track is broadly speaking experimental electronica, with loops and textures underlaying a found recording of a humourous anecdote spoken in very precise English tones. Whether or not this track is representative of the rest of the album is anyone's guess.
If anyone can shed any light on the band/artist or album, please get in touch.
Lockjaw -- "Arse of Biscuit"
from "Do You Believe In The Afterbirth" CD (Blip 080)