There's a thread on this topic here:
www.mumsnet.com/Talk/_chat/1247201-How-sad-is-this-Does-this-happen-in-your-dc-school
This happens at my ds' school and every year I find the thought of his hard (or not so hard) work being scrapped quite upsetting and also a bit disconcerting as I have suddenly realised that I haven't seen any examples of his schoolwork since the autumn parent's evening ( he gets no homework).
I'd be interested to hear of your views on this MNHQ.