Preheat oven to 350 degrees. Lightly grease an 8-inch or 9-inch cake pan, preferably a springform pan, with coconut oil and line the bottom with unbleached parchment paper.

Spread cherry preserves evenly over the parchment lined bottom of the cake pan. Arrange cherries over the preserves.

In the bowl of a food processor fitted with the metal blade, add the rest of the ingredients and process until well combined, scraping down the sides of the bowl once to make sure all ingredients are well incorporated. Alternatively, whisk the dry ingredients in a large bowl. Whisk the wet ingredients in a medium bowl until well blended. Pour the wet mixture into the dry mixture and mix until well combined. I find that blended in a food processor prevents the coconut oil from clumping up.

Pour the batter over the cherries, spreading the top with a spatula. Bake in the middle of the oven for 35 - 40 minutes or until cake is lightly browned and a toothpick comes out clean. Baking time will depend on your oven as well as the size pan you use.

Allow cake to cool for 10 minutes, then run a knife around the edge of the pan and invert onto a cooling rack. DO NOT LEAVE THE CAKE IN THE PAN FOR LONGER OR CHERRY GLAZE WILL HARDEN AND PREVENT YOU FROM INVERTING CAKE. Allow to cool completely before serving.