At the IOE, for History, and likely for other subjects though I don't have personal experience of them, it went like this:
Teaching practice: ungraded, pass/fail. Formative comments on practice in Assessment Record File, but not graded.
Two M-Level assignments: graded A-D. A-C gets you Masters credits, D gets you nothing.
Overall: pass/fail based on teaching practice and submission of M-Level assignments.
Recommendation for Qualified Teacher Status: yes/no based on teaching practice.
If your M-Level assignments average out at less than a C, you do not get a Post-Graduate Certificate in Education, but rather a Professional Graduate Certificate in Education.
Whatever you get, Post- or Professional, you still qualify as a teacher. On an application, put the word "Pass" in the grade box. Typically schools don't ask for CVs, rather they have a standardised application form with a personal statement. If there are any amazing bits of your practice or your academic work that relate to the job, the personal statement is the place to mention them.