pinkchez is correct. The Statement has to be reviewed annually by the LA.
"It's a bit complicated though because technically you don't have the same rights as a parent with a non-statemented child and you are obliged by law to send them to the placement named in part 4. If you don't, the LA can take legal action (don't know of ANY cases where this has happened, - but they might threaten it if you start to demand the provision written in it to be delivered at home)."
Sorry but that bit is NOT true.
the parents of a child who has a statement has exactly the same rights to home educate as any other parent.
You have to provide an education suitable to the SEN helpfully listed in part 2 of the statement, but you don't have to do it the way a school would, and the rest of it-including the stuff in part 4- applies to what the LA must provide if the child is in a state school.
The only time it's different is if the child is a registered pupil at a special school, and then you have to ask permission to deregister, but the LA may not unreasonable withold permission.
Once a child from a special school is deregistered the parents again have exactly the same rights to HE as anyone else.
The LA will need to review the statement, they are obliged to invite you, but you don't have to attend, they don't have to see the child. You can choose to send in written information instead.
Do come on over to the Home Ed Section of Mumsnet and we can discuss it more there, or if you are on FaceBook come and join us on the Mumsnet FaceBook page and/or the Home Educating our Special Needs children FB page and we can discuss it more there.