Here is the response from CAA
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"I refer to your e-mail dated 25 Feb 2005, please accept our apologies for the delay in replying.
Firstly, the 30 hour credit for PIC in gliders applies only to the minimum 200 hours flying experience required for CPL(A) issue. The credit does not apply to the 100 hour PIC requirement on aeroplanes.
As you are entitled to the 30 hour credit, this can be deducted from the 150 hours experience requirement to commence a CPL(A) modular course i.e. 30 hours PIC gliding time + 120 hours hours of aeroplane time = 150 hours minimum to commence the course. There is no minimum PIC requirement to start the course but we would advise you to have most of the PIC time completed so that you do not have to worry about skill test/exam validities whilst trying to complete any shortfall once you have completed the course.
Regards
Simon White
Policy Section
PLD"
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So there it is, from the horses mouth so to speak.