yes as long as its proper PIC ie you sign for the aircraft and not that FAA thing of two people logging it in an SPA aircraft unless you are the "proper" PIC signing for everything.
Its still not going to save you that much money. And unless you have over 1000 hours EASA PPL instruction under your belt and unrestricted nobody is going to touch you. I am sure but Bose will be able to give us a better opinion.
I looked at it and then decided I wasn't going to do the pay cut or pay for all the hour building or the ratings. I presume a Line training captain on a steam driven manual TP with previous PPL instruction under his belt would be of interest to a school but maybe not.