What is the significance of Two-Mike-Kilo-Alpha to Lima-One?

The answer (provided by greasybilgerat) follows!
BRAVO ZULU? Well done!
Well done! is traditionally flagged as bravo zulu! No! I do not know why but I'm open to suggestions.
What do we call our flagship?
INDIA UNIFORM MIKE WUN

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Bluemoments gives the Single-Flag interpretations but not the morse equivalents
Not that all alphabetic flags are rectangular, not square. One and one only has four colours.
Only two are mono-coloured. Only two have a 'bite' taken out of them.
One of those with a bite is duo-tone. Think Don Downer! DD? Diver Down? You got it.
Only one flag is designated as having no meaning when run up on its own. ROMEO.
But it DOES have a meaning! That meaning is "Roger" or "I understand what you are saying"!
Note the shape of the numeral flags are trapeziod and remember number 2. It is flown on Londinium!


IT: I'm on fire.
AN: I need a doctor.
GM: I cannot save my vessel.
AC: I am abandoning my vessel.
RY: Give me a wide berth and pass slowly.
To which the coastguard replied
EL: Repeat the distress position.
GN: You should take off persons.
Which if any of these signals actually matters to us on the river and why not?