I think you need to think through what messages you convey to your dd about school, her teacher, homework, the importance of following rules etc.
I think you will get further with the school if you try to work with them than if you ignore them or set yourself up against them. This does not mean accepting everything they do without question, but think about how and when (and in whose presence) you talk to them about any issues, and bear in mind what they need to see from your dd and why, and what other demands the teacher may have on their time as well as just you and your dd.
As others have said, you can do whatever you like in addition at home. You can, of course, request more appropriate levels of material if what is being sent home is too simple, and you can ask for explanations of why they are doing things a certain way.
Others have already made all the points I would about the importance of phonics and comprehension.
I have always taken the approach that if there are things my DCs manage easily and are good at in reception, then I would rather the teacher focussed on other aspects. Making friends, learning to cope in a structured environment and behave well in a class of 30, taking turns without intensive prompting, coping with simple (but often surprisingly challenging things) like remembering to go to the toilet and coping with wiping independently, dealing with a fear of hand driers, coping with tiredness towards the end of the day, deling with falling out with friends, learning to motivate themselves when Mummy is not micromanaging every pencil stroke
etc. These are all vitally important things for the reception-aged child. Learning to love school and feel happy there so they can flourish and learn well is very important, and arguably more important than what they achieve academically aged 4-5.
Yes, you don't want them to be bored and if that happens you can address is. But, if they have intelligent, interested, motivated parents and are bright themselves, then they are extremely likely to do very well at school, irrespective of the level of academic accomplishment in the reception year.