I have this

please note that each flag has has it's own group and all of this groups are in one single group if this matters.

As you can see I have line of flags. I want to take this flags and stretch them around the circle to make something like this
Just like this

You have your work cut out for you - you are probably going to use the EXTENSION pattern along path to keep the colors, but there will be a lot of undoing, changing the size of the circle, redoing etc. Measure carefully to save time. Add nodes to all the paths to make results smoother. You will almost certainly have to do some node editing to line things up afterward.
I myself would probably use a number of concentric circles for the backgrounds of the flags and use PAP extension only for the symbols floating on top

To bend many objects at once use, group them together and use bend lpe on the group
(As far as I know that's the only way of distorting groups to any shape.)