Butter the slices of bread and set aside.
Grease the pudding basin with butter and place a buttered disc of baking paper in the bottom of the basin. This is to ensure the top of your pudding won’t stick when you turn it out.
Place a layer of cherries at the bottom of the basin.
Layer the buttered slices of bread, butter side downwards, scattering a layer of cherries and raisins every couple of layers until you have filled the basin. You will need to arrange the bread slices in such a way that they fit the round basin so you'll need to fill any gaps with smaller pieces of buttered bread.
To make the custard, warm the milk in the saucepan.
Place the egg yolks and sugar in the mixing bowl and beat with the electric hand whisk until thick and pale in colour.
Add the warmed milk and whisk thoroughly.
There will be a lot of froth on the top of the custard so you'll need to rest the custard until the it disappears. Give it an occasional stir with a spoon to help reduce the froth.
Pour the custard into the pudding basin and leave to soak for an hour. You may think you've got too much custard but keep feeding it in stages - it will take all the custard.
Cover the pudding with a disc of buttered baking paper.
Make a pleat in a piece of kitchen foil and cover the basin with it ensuring the pleat is placed at the centre of the basin. Secure the foil with string tied round the edge of the basin, making sure you create a ‘handle’ with which you can remove the pudding from the hot water.
Place the pudding in a large-lidded saucepan and fill with boiling water two thirds up the sides of the pudding basin.
Cover the saucepan and steam for 2 and a half hours making sure you check the level of the water and top up from the kettle if necessary.
Allow to cool slightly before removing from the hot water and turning out onto a serving dish.