Place all of the ingredients in a mixer or food processor and blend until everything is mixed.
Split the batter between 2 greased 8 inch round tins, and bake for 25 minutes or until a cake tester comes out clean.
For the cream:
Whip the cream until it forms soft peaks. Add powdered sugar (to taste), skimmed milk powder (if using - This is to help give the whipped cream structure so it doesn't flatten out too quickly), and vanilla. Mix in gently.
Place one layer of the cooled cake on a cake plate and the other half on a plate. Spread the whipped cream over the bottom layer and then spread the jam over the other and sandwich them together.
Dust with a powdered sugar before serving.
Please note: The metric conversion for this recipe is not a conversion, but an alternate recipe that was made using British ingredients. If you are outside the US, please follow those measurements for the best results.