It is all a bit strange but essentially yes.
To answer your question a bit further talking about the street supply set up then a typical supply to a house is just L and N there is no earth wire of any type seperate wire or sheath. The cable has a live core and an outer neutral..
As for the house supply Fuses are only installed in the Live. The neutrals are connected to a common neutral bar and the earths to a common earthing bar within the fuseboard
The houseLive supply is conected via the metering equipment and a supply fuse 80/100A to the incoming elecectricity company cable.
The neutral and earth conections from thier conection bars are then conected to the incoming supply company neutral via a conection which also connects to the incoming supply cable. The picture below also shows an earthing conection block but this then goes straight to the incoming supply neutral
3-phase supples are the same but with 3 L supplies.
See image below
View attachment 65429
Hope it helps in your understanding of how the UK does things
We do still have supplies with a seperate earth circuit and some where an earth is not provided at all,
Kind regards Pd