Preheat your oven to 160°C (320°F/Gas Mark 3). Grease and line a 20 cm (8 inch) round cake tin.
Cream together the softened butter and sugar until light and fluffy. Beat in the eggs one at a time, ensuring each is fully incorporated before adding the next.
In a separate bowl, whisk together the flour, baking powder, and mixed spice. Gradually add the dry ingredients to the wet mixture, alternating with the milk. Fold in the mixed dried fruit and cherries until evenly distributed.
To make the marzipan layer, combine the almond flour and icing sugar. Using a clean finger, make a well in the center and add the egg white. Mix well to form a pliable dough. Roll out the marzipan on a lightly floured surface to a circle slightly larger than the base of your cake tin.
Spoon half of the cake batter into the prepared tin. Gently press the marzipan layer on top, then spoon over the remaining cake batter.
Brush the top of the cake with the beaten egg yolk and sprinkle generously with flaked almonds.
Bake for 1 hour 15 minutes to 1 hour 30 minutes, or until a skewer inserted into the center comes out clean.
While the cake is still warm, make the topping. In a small saucepan, gently heat the caster sugar with 1 tablespoon of water until the sugar dissolves. Brush the warm syrup over the top of the cake and allow to cool completely on a wire rack.