Nope, they were planning for a cross channel jump.
Invasion: The Alternate History of the German Invasion of England, July 1940 by Kenneth Macksey, is a very good speculative history of the plan.
The main debate of the plan was whether to make it a braod attack along the length of the Channel or a concentrated thrust at the Dover/Folkestone area. Considering the limited naval transport capability of the Kriegsmarine, a narrow thrust was chosen in the book. This tactic allowed for maximum protection of the invasion forces by the Luftwaffe and the Kriegsmarine's limited forces. Even if you don't agree with all of the author's ideas, it still makes an enjoyable read.