Melt Copha in microwave or saucepan until fully melted. Whisk together melted Copha and brown sugar, add sour cream and whisk in eggs one at a time.
Sift together plain flour, self-raising flour, cinnamon, mixed spice and nutmeg in a separate bowl. Fold through the Copha mix. Add the soaked fruit and stir through.
Divide batter equally into the prepared pans and bake for 25 to 30 minutes, or until a skewer inserted into the centre comes out clean. Remove pans from oven. Set cakes aside in the pan for 5-10 minutes before turning onto a wire rack to cool completely.
Combine cherries and sugar in a saucepan. If using fresh cherries, add 50ml of water into the saucepan; if using preserved cherries, add 50ml of the syrup.
Bring mix to the boil over medium heat. Then reduce heat to low and simmer for 5 minutes, or until liquid has reduced and become a syrup.
Make custard according to instructions on packet.
Place cakes onto serving plate; warm in microwave if desired.
Drizzle custard over cake and serve with cherry compote on the side.
Cake can be kept in airtight container in pantry for up to 3 days.