Could Britain build Vanguards before the war?

If the treaty system collapsed in 1937, could Britain rapidly build Vanguard-type battleships?

Possibly several, alongside other new construction and refits, but available large-yard capacity would prevent every capital-ship modernization from happening.

Britain could use R-class turrets for Vanguard-like ships if work began early and suitable yards were reopened or expanded. Several conversions might be completed alongside King George V construction and Queen Elizabeth modernizations before the war. Hood would probably still miss a full rebuild because only a limited number of yards could handle the work. Industrial capacity, rather than paper tonnage alone, sets the programme's limit.