The correct answer is 'five minutes to one'.

Solution:

• The time is 12:55 means the minute hand is pointing at 11.
• The time is 12:55 means the hour hand is between 12 and 1.
• It takes five minutes for the minute hand to move from 11 to 12.

Since, the minute hand only needs five minutes to move from 11 to 12, and the hour hand is between 12 and 1.

Then, the time 12:55 is 'five minutes to one'.