Sadly you're not far wrong. After the last round of treason er sorry defence and security review the plan is
2 hellicopter carriers
2 lpds & 4 auxillary lph
16 Destroyers and frigates combined
12 SSN
4 SSBN
5 OPV
Assorted survey ships, supply ships and training craft.
All this for an island nation where everything has to cross the seas at some point.
Well, the RN is being expanded again, and it will return to great strength in the 2020s. In addition to the 2 Queen Elizabeth supercarriers and their F-35 contingents, there will be 22 frigates and destroyers, mainly the Type 26 frigates and Type 45 destroyers, easily among the most advanced and deadly warships in the world. There will also be 7 Astute class SSBNs. This in addition to the Ocean class helicopter carrier, 3 Albion-class LPDs, 24 OPVs, and 15 minesweepers already in service.
Keep in mind that these 22 frigates and destroyers are each armed with very advanced weaponry, and can reach many miles away. Wikipedia says that a Type 45 destroyer can simultaneously track, engage and destroy more targets than five Type 42s combined could. The carriers will also have a large and devastating reach.
As of now, though the RN is still the dominant navy of Europe, and the second-largest in NATO, and it is one of the few navies capable of global power-projection.