Preheat the oven to 180°C. In a mixing bowl, rub the cold butter into the flour and icing sugar with your fingertips until it resembles fine breadcrumbs. Add the egg yolk and water, bringing the dough together without overworking. Wrap in cling film and chill for 20 minutes before rolling.
Roll the pastry on a lightly floured surface until about 3 mm thick. Carefully line a 20 cm tart tin, pressing the pastry into the edges. Trim excess and prick the base with a fork. Chill again for 10 minutes to prevent shrinkage.
Line the pastry with baking paper and fill with baking beans. Bake for 15 minutes, then remove the paper and beans and bake for another 5 minutes until pale golden. Allow to cool slightly before adding the filling.
Spoon the raspberry jam evenly across the pastry base. Use the back of a spoon to smooth it out into a thin, even layer. This forms the sweet and fruity middle that Bakewell tart is known for.
In a large bowl, beat the softened butter and caster sugar together until pale and fluffy. A hand mixer makes this easier, but a wooden spoon works fine if beaten vigorously. This step is key for a light frangipane texture.
Gradually add the beaten eggs to the mixture, stirring well between each addition. Mix in the almond extract. If the mixture begins to curdle, add a spoonful of the flour to bring it back together.
Using a spatula, gently fold in the ground almonds and flour until just combined. Avoid over mixing to keep the frangipane tender and moist when baked.
Carefully spoon the frangipane mixture over the jam layer, spreading it out evenly to cover. Sprinkle the flaked almonds generously on top for texture and a nutty crunch once baked.
Place the tart back in the oven and bake for 30 to 35 minutes until the filling is set and golden brown. A skewer inserted into the frangipane should come out clean.
Allow the tart to cool in the tin before removing. Serve warm or at room temperature, dusted lightly with icing sugar if desired. Pair with clotted cream or custard for a traditional finish.