Drain the cherries and reserve about 2 tablespoons of the liquid. Cut the cherries in half if large and set aside
Beat the softened butter, sugar and baking powder with an electric mixer until thoroughly creamed and fluffy, about 1 minute. Beat in the egg and almond essence, then add the flour gradually and beat just until blended. Pinch off pieces of dough, roll into 2cm balls, place the balls on an ungreased baking tray and press your thumb in the center of each biscuit to make a dent. Place a cherry or cherry half in the indentation of each biscuit.
In a small saucepan over low heat, melt the chocolate with the condensed milk and stir until smooth. Add 1 to 2 tablespoons of reserved cherry liquid to the mixture or as needed, to thin the icing; icing will be thick. Spoon about 1/2 teaspoon of icing over each cherry, covering the cherry completely.
Bake the biscuits in the preheated oven until firm and slightly browned, about 12 minutes. Let cool on the baking tray for about 1 minute before removing, then move to a wire rack to finish cooling.