Your plan will work as long as there is a thick enough mulch for long enough to stifle any re-growth of whatever roots are in the pasture. Annual grasses are the quickest to die off whereas dandelions and couch grass can require up to six months of darkness to starve their roots of stored nutrients. You may need a second application of paper or cardboard in about three months time.
Once the pasture plants are mostly dead, your vegetable plants or seeds (plants are easiest in the first year when slugs – residual population from the pasture – are more numerous) will grow happily, first in the compost and then rooting into the soil below, which although undug will still have a lovely structure, left behind by the dead pasture-plant roots and lots of worm channels too. All that structure is broken by digging or rotovating, which imposes a temporary mechanical structure instead.
Mulching and not digging saves a lot of work and a lot of new weeds but does restrict the first year’s cropping a little – spring salads and carrots are almost impossible but leeks, potatoes, autumn beetroot and brassicas, courgettes and squashes are possible. Then you will reap lots of advantages in the second year because uncultivated soil grows so many less annual weeds. Good luck.