For the Coronation Fleet Review of Queen Elizabeth II on 15 June, she flew the flag of Vice Admiral John Stevens, her former commanding officer, now Flag Officer, Home Fleet Training Squadron. On 5 September Rear Admiral H. L. F. Adams relieved Stevens and the ship joined "Indefatigable" for fleet exercises off the Scilly Isles and in the Bristol Channel the following month. She ferried the 1st Battalion, Argyll & Sutherland Highlanders from Devonport to Trinidad in response to a crisis in British Guiana, and transported a battalion of the Royal Welch Fusiliers from Trinidad to Jamaica in October, returning home on 11 November. On 19 August 1954, she was relieved as flagship by the light carrier .