Preheat the oven to 180 C / Gas 6. Place cupcake cases into a cupcake tin, ready for later.
In a bowl, cream together the butter and caster sugar with a wooden spoon. Next add the eggs and sieve in the self raising flour. Now add the almond essence. Mix well until everything is combined and there are no lumps.
Using a tablespoon, fill each of the cupcake cases so they are about one-third full. Then put one teaspoon of cherry preserve into each of the cupcakes. Now add the remaining cake mixture to the cases so that the cherry preserve is covered.
Bake in the preheated oven for about 18 minutes or until golden brown, or if you stick a knife in one of the cakes it should come out with no raw cake mixture on it. Leave the cakes to cool.
Whilst the cakes are cooling, make the icing by sieving the icing sugar into a bowl and gradually mixing in the water until it is runny enough to run off a spoon, but still reasonably thick.
Once the cakes are cool, spread the icing on - it works well if you use a spoon. Then put half a glace cherry on top of each cupcake. Store in an airtight container and consume within 3 to 4 days. Enjoy!