[I do not know if it has ever been changed / flushed as I have only had the vehicle for 7 months]

It's possible the car still has the origional ATF in the tranny as Volvo "didn't address" changing it so a lota folks never did. You need a sample to look at and more than the few drips on the dipstick. You can pull the drain plug and drain off a sample (messy) or the easy way is to get a piece of 1/2" ID vinyl tubing and an empty plastic milk jug or whatever. Take the upper tranny hose loose from the radiator by carefully spreading the retainer clip and pulling it out of the rad. Insert the end of the tranny hose into the vinyl tubing and stick the end in your container. Start the engine for about 5-10 seconds until about a pint of fluid is pumped out and shut off the ignition. Look at the fluid which will look like cherry cough syrup if fairly new.(good sign), brownish if well used (not great but usually OK) or black (not good). You don't have much to loose by doing a complete flush if the fluid is brown or black and I'd try that before getting into more expensive options.