My reception age child learns loads:
they have gone to the park and collected leaves to make their own compost, in which they're going to grow vegetables when the weather warms up (and eat them, apparently);
they have done a topic on animals, made models, designed homes for the animals and gone on trips to the city farm;
build a life-size model dog for the classroom and gone to the petshop to buy him a dog bowl and some dog toys (?!);
they have made 3-D maps and done treasure hunts to learn about directional language;
they are currently doing a topic about homes and buildings, have built a model street out of cereal packets, gone on walks around the area (maps again), learnt about the difference between houses and flats, and been told what mobile phone masts do;
And so on.
She gets no homework at all, and I like it that way. They are doing reading, writing and maths, but it's all embedded in the topics above. As it happens dd2 is well ahead of where she needs to be (can read ORT level 9 pretty comfortably, and I discovered at the w/e that she can count in twos as well). She wasn't taught to do either of these things at school, she just learnt it. And no, the school aren't pushing it, but she's not in any way bored because the lessons and topics are so interesting.
No homework really does not = holding a child back. You need to look at extending her sideways if you think she needs more, there is zero point in pushing her faster through the normal grind of literacy and maths, and a whole world of extra fun stuff out there to discover.