Combine the water, chopped dried apricots, raisins, and ¼ cup of sugar in a medium saucepan. Simmer slowly over low heat for about 30 minutes. Set aside to cool to room temperature.

In a large mixing bowl, cream together the butter, cream cheese, vanilla extract, and 1 cup of sugar until light and fluffy.

Beat in the eggs one at a time, mixing well after each addition.

Sift together the all-purpose flour and baking powder in a separate bowl.

Gradually fold half of the flour mixture into the creamed butter and sugar mixture.

Fold in the cooled boiled apricot mixture.

Incorporate the remaining dry ingredients, folding gently until just combined.

Fold in the chopped glace cherries and mixed dried fruit.

Preheat your oven to 325 degrees F (160 degrees C). Pour the batter into a greased and floured tube pan or divide it into two small loaf pans.

Bake for about an hour, checking for doneness with a toothpick inserted into the center.

Once baked, allow the cake to cool in the pan for about 10 minutes, then turn it out onto a wire rack to cool completely.