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Dude, you are taking a huge chance if you do this.
First off, they will ask you for the original source footage. If you tell them you don't have it they might still buy your non-exclusive "rights" if they choose to use the footage from the web quality youtube video but they'll pay you significantly less.
Here's what will most likely happen next. They produce their show and it airs on British TV. Maybe another producer sees the show and contacts you for the rights to use it in some web clip type show like Tosh.0. Both these shows get rerun into the ground and eventually the actual guy that filmed the clip or one of his friends or relatives ends up seeing the clip on TV (trust me it will happen). He contacts the producers and finds out that you sold rights to video that wasn't yours to begin with. He will then sue you and the production company (he probably won't win against the production company). Both production companies then sue you as well and the monetary damages will have already quickly escalated if the shows have aired on TV... not to mention the expense that they had to cover in defending the lawsuit against them from the real owner of the footage. Then there is the possibility of criminal charges against you when it is proven that you willfully signed into a false contract selling rights that weren't yours to begin with. It's a lot of potential downside with very little upside. I'm guessing they might offer in the range of $3,000-5,000 (maybe even less these days as they know ppl are hurting and desperate for $$, also depending on the length of the clip they want to use) for the source footage... which you don't have. So if they agree to use web quality video they will probably pay you in the ballpark of $500 - $1,000 for it. That's very little money for what, most likely, will end up costing you 20x that amount.
TL;DR -- don't do it, dummy!
(unless, of course, you have a very good fake ID which will enable you to cash that check and get ghost
)