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It does.
But if you create an event on the Saturday 25th October for 10pm in London, the UTC is 9pm.
If you view the event on Monday 27th October the UTC is still 9pm and as no DST now applies the local event time will be shown as 9pm.My point is that someone intended it to be 10pm, and it now says 9pm. I've stored the right value given their input, but it's the wrong value given their intent (the event is at 10pm, which is what they chose in the drop-downs, they meant to store 10pm UTC).
And if I made sense of this, it would mean showing 11pm BST on Saturday 25th, so that 10pm GMT was the event time... but most users would regard that as a bug... users don't think of DST.
This shouldn't be a problem then.
The JS should give you the right UTC for the event date and time, not the current date and time and vice versa.