Amazing if that happened.
Looking at wiki, the lowest they've ever had seems to be 131 seats in 1906.
Some interesting potential parallels with 1906.
That was a Liberal landslide ushering in a very progressive Campbell-Bannerman government including Asquith, Lloyd George and Churchill. The big issue they fought on was Free Trade, which would mean lowering of prices for consumers, but there was also the pressure from the Labour Movement which did lead to some real changes for the poor and the ordinary workers.
Most of the votes the Liberals won were thought to be a result of dissatisfaction with the Tories, who had been in power for 11 years. The Tories had won the 1900 'Kharki election' with a large majority with the electorate fooled that the Second Boer War was effectively going to be sorted. 'Getting the Boer War done' was probably the slogan. In fact it turned into a prolonged, costly disaster and led to the founding of the Republic of South Africa, international scorn for a UK, a UK that invented concentration camps to contain people in awful conditions and also gave the Irish Independence movement a huge boost.
Electoral pressure from Labour led to a secret 'Gladstone-MacDonald pact' which meant that many seats were not contested between Labour and the Liberals in 1906, who could then focus resources on getting the Tories out.
That pressure from the Left also led to the radical change of a very first budget that specifically set out to redistribute wealth through taxation and the first real movement towards a welfare state with measures on education including free school meals, old age pensions introduced, Labour exchanges introduced to help the unemployed and compulsory health insurance to help sick workers. This led to a constitutional crisis and significant Lords Reform.
Interestingly, the incumbent Tory Prime Minister, Arthur Balfour, who had took over mid term following the resignation of his predecessor, lost his seat in the 1906 election.
It would nice to see a similar repeat of all of this, wouldn't it, including some radical reforms and measures to the Left?