Events set to All day still show time and do not say 'All day'

Problem/Motivation

Events set to All day do not state that and instead show the start time from

Steps to reproduce

Create an event and instead of setting the time click the toggle for the 'All day' option and save.

The start time will still be shown and will be displayed as 12am of the start date output in the format that is chosen from the display settings for the date field in the Event Content Type.

I believe the expected behaviour would be to not display the time like this and display 'All day' instead.

Proposed resolution

Either a preprocess hook to query if the Event is set to All day and replace the time with 'All day' as a string, or do something similar in a date field template provided by the module.

Remaining tasks

User interface changes

API changes

Data model changes