The formula for composition of velocities, sometimes called the "velocity-addition formula", is an equation you can use if you already know the velocity of an object in one inertial reference frame, and you want to find out what the velocity of that same body is in some other inertial reference frame, moving with some velocity relative to the first inertial reference frame. Let's call the frame where you already know the velocity your "input frame", and the frame in which you want to know the velocity your "output frame" (because that's the output you want the formula to compute).
Probably your symbols are being used as follows: U' for the velocity of the object with respect to the output frame, U for the velocity of the object with respect to the input frame, and V for the output of the target frame with respect to the input frame. Then, in the simple case U and V are parallel and in opposite directions,
[tex]U'=\frac{U+V}{1+UV/(c^2)}[/tex]
(c is the speed of light in a vacuum.) Some people use u and v like this, others use them the other way around. Conventions vary, so everyone should define their terms. If they don't, in this case, you might be able to guess what they mean by looking for the odd one out. In this version the two Us (one with a prime symbol, U', the other without, U) refer to the velocities of the object, while the letter that's different, V, refers to the velocity of the output frame wrt the input frame.