So if this isn't a JAA license then what is it??? Someone please explain!
It is an FAA PPL which, with the JAA ground exams, medical and skill test, allows you to apply for a JAA PPL provided that you meet the experience requirements for the issue of a JAA PPL or have more than 100 hours total time. Presumably, the extra 5 hours in this package over that required for the FAA PPL are there to achieve the JAA minima. You could achieve exactly the same effect by doing a FAA PPL at any other flight school, making sure that you achieved JAA minima in the process and arranging to do the exams and skill test at an approved organisation or in the UK, along with the medical. UKFT are simply charging a premium price to arrange for all of the extras you require for issue of a JAA PPL, you would have to research whether you could do it yourself more cheaply.
Bear in mind that, contrary to what Julian wrote, you can fly a UK registered aeroplane (day/VFR) on a FAA PPL without applying for a reciprocal licence (in fact, no such thing exists). There are a couple of guys in my local club who are in exactly that position. The FAA (or any other ICAO) PPL also qualifies you for entry onto a JAA modular CPL course, so there is actually no good reason to get a JAA PPL if you intend to progress to a CPL.
If, however, you decide that you want a JAA PPL, you need to ask yourself whether you should trust an organisation that dispalys such misleading twaddle on its website. They are neither JAA approved, nor 'Recognised by the CAA' (whatever that means). I suggest you would be better off at a JAA approved training organisation or a Registered Facility within the JAA.