Pre-heat the oven to 170°C, 325°F, Gas Mark 3.
Grease and line an 18cm (7") round deep cake tin. Cream the butter with the sugar until pale, beat in the eggs, one at a time, adding a little flour if necessary.
Stir in the remaining flour, milk, candied peel and Caraway Seeds. Transfer the mixture to the prepared tin and place the almonds on top for decoration.
Bake in the centre of the oven for 1¼ - 1½ hours or until firm to the touch and lightly browned. Allow to cool slightly before removing from the tin.