--UPDATE TWO--

Now I've come up with a way to reduce the amount of code drastically.

I will use 10 functions to turn the LEDs on and off depending on the current time. This is 'eight' for example:

def displayEight(led_1, led_2, led_3, led_4, led_5):
    GPIO.output(led_1, True)
    GPIO.output(led_2, True)
    GPIO.output(led_3, True)
    GPIO.output(led_4, True)
    GPIO.output(led_5, False)

In addition I installed another row of LEDs today but now I don't have any more LEDs and need to order some which is why I won't be posting any updates for a few days.

Here's how my breadboard is looking right now (don't mind the knife, I needed to open a pack of resistors):