In a similar situation to you GTF.
Reading through JAR FCL 3 and some associated documentation on the CAA's website; I would conclude that so long as the Class 1 was issued by a JAA member state it should be fine so long as you're training for a JAA PPL.
Obviously with EASA coming in to play soon I've no idea just yet how it'll work out. I've dropped an e-mail to the CAA Medical Team, so I'll let you know what they come back with.
RR