Preheat the oven to 350°F (180°C) and place cupcake liners in a muffin pan.
In a large bowl, sift together the cake flour with baking powder, baking soda, cocoa powder, and salt. Set aside.
Using a handheld or stand mixer fitted with a paddle attachment beat the butter at high speed until smooth and creamy. Gradually add the sugar and continue beating on high speed until creamy, followed by the eggs and vanilla extract.
Adjust the mixer speed to low, and slowly beat in the flour mixture by adding it gradually alternating with the buttermilk and red food coloring.
Divide the batter between the lined muffin liners filling just ⅔ of the way full, and bake for 20 minutes or until a toothpick inserted in the center comes out clean.
Transfer to a wire rack and let them cool completely.
Prepare cream cheese frosting, and using a round tip frost the cupcakes before serving.
To make the cream cheese frosting
Using a large mixing bowl, or in a stand mixer with a paddle attachment, beat cream cheese, with butter, and vanilla extract until smooth and creamy.
Gradually add in the powdered sugar, until you get the desired consistency. If the frosting is too stiff, beat for a few seconds longer (but be careful not to overbeat).
Notes
If you don't have cake flour, you can easily make it. For every cup of cake flour, measure out one cup of all-purpose flour and remove 2 tablespoons. Add 2 tablespoons of cornstarch (cornflour in the UK), and whisk well.