For those unfamiliar with the single, it's one of Bill's 1960's comedy releases.  This one was released on John Peel's record label (Dandelion). The traditional song is done in the style of Joe Cocker's "With A Little Help From My Friends".  Surprisingly, whoever compiled the recent media reports failed to notice that Peel is listed in the credits on the B side (a song called "Harry Krishna") - he's credited with "tape, reels, and vocal". I've put a scan of both sides of the single on my Goodies Illustrated Guide website (it can be seen about halfway down the page at
http://mysite.verizon.net/vze7yes3/illustratedguides/id7.html).  Different performances of both songs turn up in episodes of "I'm Sorry I'll Read That Again".

Recent articles about John Peel's record box can be found at http://uk.news.launch.yahoo.com/dyna/article.html?a=/051031/340/fvor7.html&e
=l_news_dm and
http://enjoyment.independent.co.uk/music/news/article323339.ece.