In large bowl, using electric mixer, cream butter with 3/4 cup (175 mL) of the sugar until fluffy. Beat in eggs, one at a time. Beat in almond extract.
In medium bowl, whisk together flour, ground almonds, baking powder and salt. Gradually stir into butter mixture alternately with milk. With spatula, spread into the bottom of greased 10-inch (3 L) springform pan. Press apple slices into batter in overlapping concentric circles. Sprinkle with cranberries, sliced almonds and remaining sugar.
Bake in 350°F (180°C) oven until apples are tender and a tester inserted into centre comes out clean, about 1 hour and 10 minutes. Run knife around inside edge of pan and cool on wire rack for 10 minutes. Remove from pan.
In small saucepan, heat jelly until liquid. Brush over top of cake. Serve slightly warm or at room temperature.