Preheat the oven to 180°c / Gas 4. Line 2 muffin tins with cake cases and set aside.
With an electric whisk, beat together the margarine and sugar until pale and fluffy.
In a separate bowl, add the eggs and almond extract and in another bowl add the baking powder to the flour.
Add third of the egg to the margarine mixture and beat together with a wooden spoon, then add a third of the flour and combine, then repeat until all the cake ingredients are mixed together.
Divide the mixture between the cake cases and add a small dollop of jam on top of each. Bake in the oven for 20mins until the cakes have risen and spring back when pressed in the middle.
When the cakes are cooked, leave to cool on a wire rack.
For the icing, mix the icing sugar with 2-4 tbsp of water and mix to the consistency of thick cream and spread over each cake, finishing with a cherry on the top.
