I always felt they were completely meaningless.
They were often inflated, presumably so that the poor teacher didn't have to concede to a child going 'backwards' in his/her class.
They were always subjective anyway, especially in subjects like English, and made a mockery of MFL teaching at secondary level.
They meant parents and children alike obsessed about a number and not real actual technique or knowledge.
Anyone else glad to see the back of them?