(simplistic, obviously, but it's a nice illustration)
If the number of seats won reflected the popular vote (as reported by the BBC, with 634 649 of 650 649 seats declared), we'd have this.
CON 235
LAB 189
LIB 150
UKIP 20
BNP 12
SNP 11
Green 7
Alliance 1
Other 24
(and one still to come)