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Heat the oven to 180C/160C fan/gas 4. Tip the syrup from the cherries and the jam into a saucepan. Boil for 10-15 mins until the liquid has reduced by half and is thick and syrupy, and add the cherries to the pan. Pour into a baking dish, roughly 18 x 25cm, then set aside.
In a large bowl, mix the butter, sugar, eggs, flour, almonds, almond extract and a pinch of salt with an electric whisk until combined. Dollop the sponge mixture over the cherries and spread to a smooth layer, trying not to disturb the cherries underneath too much. Scatter over the flaked almonds, then bake for 45 mins until a skewer inserted into the sponge layer comes out clean. Leave to cool for 5 mins, then dust with icing sugar and serve with cream or, better yet, custard.