My kids (aged 5 and nearly 12) go to bed around 8:30. The older one reads in bed for a bit before going to sleep though.
The time is not strict and is much more relaxed on weekends or when school is not in session. Still, I find my kids do better if they have a lot of sleep. I've read that most kids don't get enough sleep, so I try to at least generally keep to that bedtime.
It's set so you can add different times if different kids have different bedtimes.