According to some on here the PIC is not a Captain unless it's a multi crew aeroplane.
So with that logic, the hours don't count and the PIC is a Pilot and not a Captain as it is a single pilot certified aeroplane
Then some people on here are wrong (which shouldn't surprise anyone), if they are referring to Australian Regulations. Under
CAO 40.1.0 Section 10, PPLs may only log command if they are handling the controls. CPLs and higher log command if they are in command, and co-pilot if they are acting as co-pilot. No mention of aircraft certification is made.