Cherish memory of system Balmoral embodies (6)

I believe the answer is:

embalm

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'cherish memory' is the definition.
I can't judge whether this definition defines the answer.

'of system balmoral embodies' is the wordplay.
'of' says the answer is hidden in the clue.
'EMBALM' is hidden in the letters of 'system balmoral embodies'.

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(Other definitions for embalm that I've seen before include "Preserve body, mummify" , "Use chemicals to preserve a dead body from decay" , "Treat corpse so as to retard decay" , "Make into mummy" , "Prepare corpse for preservation (6)" .)

I've seen this clue in The Times.

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