In a large bowl, combine flour, ground almonds, baking powder and salt. Set aside.
In a separate bowl, using an electrical mixer, beat together eggs and sugar until combined (for about 2 minutes), then add vanilla and almond extracts followed by butter and milk.
Incorporate the flour mixture into the egg mixture using a spatula.
Cut 3/4 of cherries in halves, then add them to the batter.
Pour the batter into a 23 cm round baking tin.
Bake for 15 minutes at 180°C.
Quickly arrange the remaining cherries on the top of the cake.