Just in time for the change over to British Summertime, I finished the prototype breadboard of my Arduino LED clock. I wanted a simple 4 digit clock that set itself, and didn't need any user intervention to change from winter to summertime.
It also needed to be able to display local time or UTC. I used an IR receive sensor to do this.
The easiest way to set the time and keep it accurate was a GPS receiver module, which has a battery backed up RTC, so even if it loses the GPS fix, the time is still output and can be used to sync the clock.
I also put in the fun demo of how the LED display multiplexing works in slow motion. Pressing the button slows it down and then it gradually speeds up to normal speed.
Anyway, it works quite nicely.
Enjoy!