Our school has changed the homework policy this year, and it's much better.
Year 2 child has spellings, mathletics activities and reading book. Then term homework, which is three craft activities and a reading challenge.
Reception child has handwriting practice, reading book and then term homework as above.
Spellings and mathletics done in the morning as they don't require much input. Reading for both in the morning if I have time, and then between after school activities.
Handwriting practice comes home on a Friday, so we do that and the creative term homework on weekends.
It's great because you can plan the creative stuff around your social plans, and it's technically optional so it doesn't matter if we don't do it.
When we had creative stuff every week, we did it on the weekends. We keep Saturday as a pyjama day, so there's loads of time for playing with toys, crafts and a bit of homework slipped in.