My goodness, you must all go to schools just chocker with child genius. White is very good. Most Year 1 classes will range from pink to white.
That said, I am very lairy about raising levels beyond white at Year 1, because most children will simply not have the capacity to comprehend inferential references in the text. I know parents will often say to me "But Einstein can recall the story and understands it!" However, this is often just recall of narrative, and the child will not be able to answer inferential questions sufficiently. I do feel that there's often pressure from parents to move children up when they are not ready. My advice would be to ignore all other parents whose children are reading War and Peace at Reception age, as 99 times out of 100, that child will be missing nuances, and even if they ARE a wunderkind, may still be unable to hold a pencil correctly.
At Reception and Year 1, the age differences are still big ( a 5 year old is often behind a 6 year old), and the range of normal is vast. My ds is reading white in Year 1, and he's a canny little chap for only just 6, but his best mate is 3 levels below him. He's just as celevr, he knocks ds into a cocked hat at maths. It's just his reading is a little below. Levels, in my opinion, don't do kids any favours. I would rather that levels were done away with, and a simpler, less competative system put in place. Bookbands breed war!
It's telling that a "gifted" child I know was on lime at reception, in terms of reading ability. However, using the BRP system of assessment, they came out at yellow. Just let your kid enjoy books. Read, ask about the book, buy books, borrow books, just don't look at what your neighbour is reading, because it isn't often healthy or indicative of YOUR childs' progress.