If the circuit wa designed and implemented correctly, which it is not.
The 555 should be configured as an astable multivibrator whose purpose is to generate a square wave at some convenient frequency. The counters will count rising edges of the 555 output and the 4511 is a BCD to 7-segment decoder.
This circuit would only work in some parallel universe, or there are details of which you and we are not aware.
The 555 has to low value capacitors.
The two counters will count until 9.
So the circuit will count 0 - 99.
The resistor for the led is to low and you shpuld use resistors for each segment (not the complete display).
Greetings,
Bertus
PS in simulation it may look to work, but practice is different.