In a large mixing bowl, combine Butter (150 gram), Caster Sugar (1 cup) and Vanilla Extract (1 teaspoon). Beat together until combined.
Add Egg (2) and beat together.
Stir in half of the Milk (2/3 cup) and half of the Self-Rising Flour (2 cup). Combine and then add the remaining milk and flour.
Divide the batter into two large donut cake tins, lightly greased.
Bake at 180 degrees C (350 degrees F) for 25-30 minutes, or until cooked through.
Allow cakes to cool for 5 minutes.
Cut off the domed section of each cake.
Spread Fruit Jam (1/2 cup) over one half of the cake as the filling. Gently place the other half on top.
For the icing, sift Powdered Confectioners Sugar (1 cup) into a bowl. Add Vanilla Extract (1 tablespoon) and Milk (1 tablespoon). Stir together. Add Red Food Coloring (to taste) and mix in.
Spread the icing over the cake, allowing it to drizzle over the sides. Add Sprinkles (to taste) on top.