olly - apply and see how you go, you'll never know otherwise!
Flight hours don't matter, i know guys that have got through with a couple of hours air experience and one with over 500 hours. Though as has been said if you've not got the hours cuz you've just been blowing it on beer money then your motivation for a flying job is a little suspect.....
Computer aptitude tests are at stage 2 and most of them you can't plan in advance for, though brush up on long devision and multiplication for the maths test, not too hard in themselves but against the clock which adds to the pressure.
Is a fantastic scheme and as has been said, is really the only full sponsorship scheme around at the mo
cheers
wbv