Sift together flour and baking powder.
Add margarine, coconut, sugar, raisins, cherries, mixed peel and spice; mix thoroughly.
Combine milk, egg and vanilla.
Add liquid to dry ingredients and mix until all the liquid is incorporated. Do not knead.
Pour into two 8½
Bake in a preheated oven at 325°F for 50-60 minutes or until tester comes out clean.
Remove from oven and glaze with mixture of 1 tablespoon sugar and 1 tablespoon water.
Return to hot oven for 3-4 minutes.