Apart from its science aspects (I wouldn't talk on it), time is one of the human perceptions. If man had no memory, he wouldn't learn and adapt, very necessary for his survival. Hence evolution provided 'memory' in his brain. What is stored in it is the 'past'. What he is experiencing now is 'present'. And his extrapolation based on his past actions and judgement is 'future', yet to unravel. This three-way partition (J Krishnamurti elucidate it) enables him to know or sense time &process it mentally. He is incapable of two things in the realm of time. Encompass it in a small span, but he needs to have it segmented into intervals. The second is his inability to 'know things in advance'. If he had this ability he would treasure it beyond anything else. Contrary to the fond yearnings expressed here (Y!A) he can't go back in past.
I recall a story from Upanishads (of India). Sri Krshna had an argument with 'Narada', the wandering celestial sage poking his nose in every affair on the way. Narada asked of Krshna about time. 'What is time? You as God know it' he demanded. They were walking on a river bank. Krshna told him to take a bath (it is customary to be extra pure before an auspicious event) to listen to what he had to say. When Narada immersed in to the flowing stream (of time?), he instantly last consciousness. Then he felt he died. And he was born again as a female child of a great king. The child grew up into a beautiful dame. The king got his daughter married off. She led a family life to fullness. Bore sixty children. And died, nothing spectacular about it all. Then Narada lifted himself from water, recalling this other consciousness, as if a dream. Then he told it all to Krshna to the last detail and said why was he sitting on the river bank for a full span of a human life lasting seven or eight decades.Krshna said, 'No. I was sitting here waiting for you to come out of water, for a few moments. It is not seven, eight decades that has elapsed'. Narada could get his answer of 'What is time?'. Krshna continued, 'you lived with time in the stream of time, you bore time segmented into your sixty children, who is each a year' and gave the names of the years. It has been adapted as a cycle of 60 years with it individual names (this year is 'Vikrti' ending on New Moon on April 4; the next, 'Khara' starts on 4.4.11). From ancient times 60 has its own significance - 1, 2, 3, 4, 5, 6 can divide it. When a person's horoscope is cast, it will return to the same position after 60 years for 'an instant'. It is so because of the harmonic relationship of cycles of Sun, Moon & planets. The heavy weights of almanac, Saturn has 30 year cycle & Jupiter has 12 years and the LCM is 60; that is why.