Preheat oven to 180 degrees C grease and flour a loaf tin.
In a large bowl, mix flour, baking powder, sugar and salt. Cut in butter. Break 1 egg into a measuring cup and then fill to the 1 cup line with milk. Add to dry ingredients and beat well. Add vanilla and lemon flavouring.
Pour batter into loaf tin. Bake at for 30 minutes or until a toothpick inserted into the centre of cake comes out clean.