Could you just have one brake if you removed the saddle?
Not clear what you're getting at but 'no': the legislation does not apply to a bicycle which, with its saddle at its highest safe position (ie seat post MIN just not showing) and tyres inflated is less than (from memory) 635mm above the ground.
I assume this is designed to exclude child's bikes - one front wheel brake or none.
I broad terms a BB shell centre on one of those bikes might be max 200mm and add to that the frame size, maybe 300mm so a saddle on top a short seatpost would be under 635mm.
But BMX bikes (provided the saddle is on a short seatpost) also avoid the requirements of this legislation.
As an aside, I do suggest the legality or not of flashing lights is way off topic for this thread and is done to death (and beyond) in many, many threads.