Correct. A composite data type is one composed of others. Think C style struct. Below, the composite type (struct) has 2 members it is composed of.
```
struct MyPair {
U32 member1;
U32 member2;
}
```
Our serializable would represent the same type:
```
<serializable name="MyPair" namespace="Ref">
<members>
<member type="U32" name="time" format="%u"/>
<member type="U32" name="value" format="%u" />
</members>
</serializable>
```
If you don't need these more complex types, then you don't need to use them.
-Michael