Please see yellow banner at the top and provide your actual file.
If you have any spaces in your data it will cause errors. Highlight the column and use Find and Replace to make sure there are no spaces.
data will be in range A4-A99
Always explain this sort of thing in your first post. Update the formula to change $A$1:$A$6 to $A$4:$A$99 everywhere it occurs in the formula. However, if you have blanks, it will give you errors.
If you want to create a parallel column with true time then use this in any column
Formula:
=TIMEVALUE(LEFT(A4,2)&":"&MID(A4,3,2)&" "&RIGHT(A4,1)&"M")
and fill down, then format for display as desired
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