No, the T35 went right through to 1953! What is confusing is the way Douglas changed the format of their labelling! The models started in 1947 (with the T35), the next model was the T35 Mk3 - as there was a subsequent model, the original T35's then got referred to, by the public, as Mk1's. At this point, the engine/frame numbers were getting rather long (as in T35/S/****/3), so from the Mk4 onwards, Douglas dropped the T35 prefix. At the time of the Mk3 production, the factory was experimenting with other models that never made it into production due to financial reasons. Because there were no other models planned for the range, the need to include the model in the frame or engine number disappeared. The end result is we have Mk3's, 4's and 5's spawned from the original T35 (which later got referred to as the 'Mk1' to differentiate it from the later versions, but they are all T35's).
Hope that makes sense,
Regards,
Eddie.