Preheat your oven to 350 degrees. Spray the mini bundt cake pan with non-stick cooking spray.
Sift flour, soda and spices 3 times through the sifter
In a large mixing bowl, cream butter and sugar well. Beat in the egg, and then add in molasses, beating well
Add in ⅓ of the sifted flour mixture, stirring, then ½ of the milk, then another third of the flour mixture, the last of the milk, and finish with the rest of the flour mixture and stir until smooth.
Scoop the batter into mini bundts just above the half way mark.
Bake in your preheated oven 13-15 minutes.
Allow to cool on a cooling rack for 10 mins then invert pan and release the cakes.
Once cooled, coat with the peach preserves. Coat it on with a brush.
Pipe a simple mixture of confectioners sugar combined with milk onto the cakes and serve!