Hi Duncan,
This is quite an involved topic. It was vitally important for the box receiving a train to know what type of train this was on absolute block working with double track and refuse sidings and loops etc and also possibly relief lines.
A slow 'fly' goods might hinder an express service. Suggest you read the report on the Quintinshill disaster.
http://www.railwaysarchive.co.uk/docsummary.php?docID=158
When I worked on the railways in South Wales on The Valleys, the bell codes were still as per GWR despite no freight then being worked, but we had light engine movements when we worked LHCS, and ECHS workings, failures in section etc. Although no freight, we had track cleaning trains, and also engineers trains from NR.
Cheers,
Julian