The first of those two pictures obviously is a modern line drawing by an artist who knew what he was doing; it looks believable (which is about the most that can be said about any such artwork). The second appears to be a nineteenth-century oil painting, and owes a great deal to artistic license.
The first thing to bear in mind in a project like this is that nobody really has a clear idea of what the Ark Royal (or any other specific, named English ship of the sixteenth century) looked like. Scholars have spent decades searching for contemporary plans of the ships that defeated the Armada (and, for that matter, plans of ships that sailed in the Armada itself). They've never found any. It seems likely, in fact, that ships of that era were built without reference to plans in the modern sense.
The nearest thing to a reliable set of contemporary plans is a set of pictures, usually referred to as the Matthew Baker Manuscript, which is in one of the libraries at Oxford University. It contains several beautifully-drawn (and painted) views of (we think) English galleons from just about the time of the Armada. None of the drawings can be linked with a named vessel (though some scholars think one of them may represent the Elizabeth Jonas). Most good models of English galleons are based on the Baker manuscript. I think the first of the two pictures in CaptainBill03's post is also based on them, at least to some extent. (The artist in this case added an extra, covered gundeck to what's shown in the Baker ms, and made numerous other changes. To my eye the hull form looks more like a ship of about fifty years later - but so little is known for sure about this period that I wouldn't want to assert that.)
Quite a few modern scholars have made their best efforts at reconstructing ships of the Armada period - with varying success in terms of believability. Three books I recommend are The Galleon: The Great Ships of the Armada Era, by Peter Kirsch; The Tudor Navy: The Ships, Men and Organization, by Arthur Nelson; and the relevant volume in the Conway's History of the Ship series, Cogs, Caravels, and Galleons: The Development of the Three-Masted Full-Rigged Ship, edited by Robert Gardiner.
The old Lindberg (ex-Pyro) kit is indeed hard to take seriously. Several other plastic kit companies have tackled sixteenth-century ships, with varying results. There are several good Golden Hinds and Mayflowers out there, but those vessels were too small to qualify as real "galleons." I'm aware of one respectable plastic kit that represents a galleon from the fleet that defeated the Armada: the Airfix Revenge. It's an old kit, with pretty basic detail, but it's obviously based on the Baker ms. and could serve as the basis for an excellent scale model of any large Elizabethan galleon.
Building a model of any sixteenth-century ship is a challenge. On the other hand, it also offers the modeler plenty of room for personal interpretation and taste. If he sticks reasonably close to the Baker manuscript, nobody will be able to say for certain that anything he's done is "wrong."
Good luck.