Preheat the oven to 325 degrees F (160 degrees C).
Prepare a cake tin by spreading some butter on all sides and then dusting it with some of the all-purpose flour, then remove the excess flour from the cake tin.
Combine the remaining All-Purpose Flour (1 1/2 cup), Baking Powder (1 teaspoon), and Baking Soda (1/2 teaspoon). Sieve it and keep aside. To a bowl, add Butter (3/4 cup) and Powdered Confectioners Sugar (3/4 cup). Beat well until soft.
Add the Egg (2), one at a time and beat until light and fluffy. Add Butterscotch Extract (1 teaspoon) and combine well. Now add the sieved all-purpose flour and Milk (1/2 cup) in batches and combine well. The batter should be a smooth, ribbon consistency batter.
Pour the batter to the prepared cake tin and bake it for 25 to 30 minutes. Once done insert a tooth pick to the center of the cake and if it comes out clean then the cake is done. Take it out of the oven and let it cool down. Trim the crust from top and cut the cake horizontally into 2 layers.
Pour the Whipping Cream (2 cup) into a bowl. Add Powdered Confectioners Sugar (1/4 cup) and Vanilla Essence (1/4 teaspoon), and beat until it forms soft peaks. To assemble the cake, keep all the things ready, whipped cream, Sugar Syrup (to taste), an optional one fourth cup of butterscotch sauce and Praline Nut (1/2 cup).
Place a layer of cake on the setting plate. Drizzle some sugar syrup on the cake. Put four to five tablespoons of whipped cream on the cake. Spread well.
Drizzle on some butterscotch sauce, if using, and praline nuts. Place on the second layer of cake, drizzle and sugar syrup.
Apply whipped cream and spread all around the cake. Put some of the whipped cream in a piping bag and garnish. Sprinkle the praline nuts and garnish the cake with some Cherries (to taste). Keep in the fridge for some time. Cut and serve chilled.