I don't want to divert this thread away from FAA pre-war preparedness to something about Glorious. I will say that the only change Glorious needs is to put four of those nine Sea Gladiators on CAP. The RAF aircraft were struck below, so the flight deck was clear. One of the Gladiators would have found Scharnhorst and Gneisenau outside of gun range and in enough time for Glorious to accelerate in the opposite direction and for the five Swordfish to be brought up, fueled and armed, to be launched if needed or perhaps to wait for Ark Royal to launch a strike as well. Anyway, with a simple CAP, Glorious lives. It should be impossible for battleships to come upon enemy unaware and unprepared aircraft carriers in clear weather on the open sea. But that's all I'll say on Glorious.
That's silly talk. An air force is more than its aircraft. By building up the FAA's aircrew, maintenance personnel and yes, aircraft pipelines in the early 1930s you will have more pilots, more navigators, more mechanics, more shipborne aircraft handlers, more flight and ground-crew instructors, and more aircraft designers and manufacturers experienced in naval aircraft design and production. It doesn't matter if your original aircraft are now obsolete and discarded for replacement. All these personnel trained in the early 1930s will be the leaders for the rapid FAA expansion of 1938 into WW2. Hopefully the carriers themselves might see former experienced carrier aviators as their C/Os, rather than the submariner of HMS Glorious.
With the above in place in the early 1930s you can then scale up as needed, but you need to have the foundations. And before someone says that there wasn't money in the late 20s to early 1930s to build up the FAA, we need to recognize that the RN has just commissioned five carriers with Ark Royal ordered and plans for many more, each needing all of the above. You can't build a naval air arm from scratch in a couple of years, just ask the Germans or Italians.