Firstly the actual work of government is carried out by the civil service who are politically neutral and work for successive governments. Secondly all major decisions have been on hold since parliament was prorogued (Purdah). Ministers remain in post but there are strict limits on what they can decide pending the new government.
In 2010 when the election results was not clear the sitting PM (Gordon Brown) took an age to realise he couldn’t form a government. This was not a slick transfer of power.
In summary the civil service keeps government ticking over until a new PM is appointed. This was a clear majority and hence it was as smooth as it could be.
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