function StrToTime(const Value: String; UTC: Boolean=False): DateTime
The StrToTime function converts the formatted local or UTC time string input parameter into its native value. The required format of the string is determined by the TFormatSettingsShortTimeFormat properties. The return value is a DateTime value.
Examples
A := StrToTime('12:10 PM');
X := TimeToStr(A); // X is '12:10 PM'