• Preheat oven to 350° F (175°C).

Batter

• Combine flour and baking powder and whisk until well-combined. Set aside.
• Beat butter until fluffy. Slowly add sugar, egg yolks, and water.
• Add the flour and baking soda mixture into the butter and eggs a tablespoon at a time.
• Add half of the batter onto an oiled (or lined) spring form pan and spread out evenly into a thin layer. Bake for 20 minutes or until golden brown. Remove from pan after baking and cool on a wire rack.
• Bake the rest of the batter the same way using the pan (or use two spring form pans if available).
• NOTE: Once you remove the cake layer from the spring form pan and it's cooled a bit, gently flip it over using a big dinner plate and loosen the parchment, but don't throw it away. Flip the layer back onto the parchment paper. You will still bake the meringue on the top of the layer, but if you don't loosen the paper now, it will be hard to get it off later without breaking the meringue.

Meringue

• Beat the egg whites until stiff peaks form. Slowly add the sugar to the eggs and beat until dissolved.
• Divide the meringue in two and spread evenly over the two baked sheets of cake. Sprinkle with sliced almonds, and bake in the oven for another 15 minutes or until the meringue begins to brown.
• Remove from the oven and allow to cool.

Filling

• Strain the peaches using a sieve (to get rid of the juice as much as possible) and slice them into eighths.
• Beat the whipping cream with sugar and whipping cream stabilizer (if using).
• Arrange the peaches over one of the cake sheets with meringue and then evenly cover with all the whipped cream.
• Cover with the second cake layer and refrigerate until ready to serve.
• Sprinkle with some powdered sugar before serving.