If the information never leaves the device then it doesn’t need a policy - privacy is not about what an app does in the device which never leaves the device hence never gets shared, it’s about what it shares with a 3rd party.

A clock doesn’t need to send system time settings information to a server since that serves no purpose for it - managing that is all done at the OS level and the app just uses what’s there - and that’s even more so for location data since things like determining the timezone are done by the user at the OS level, which will handle stuff like prompting the user to update the timezone if, for example, it detects the device is now in a different timezone (for example, after a long trip).