Add the sugar to a pan and spread it into an even layer. Cook over medium heat without stirring until the sugar melts and turns a golden amber colour.
Immediately pour the caramel into a 7-inch baking mould, carefully tilting the mould to spread the caramel evenly across the base. Set aside.
In a large bowl, add the milk, fresh cream, condensed milk, eggs and vanilla extract.
Whisk gently until all the ingredients are well combined.
Strain the mixture through a fine-mesh sieve to remove any lumps and ensure a smooth, silky flan.
Pour the strained flan mixture gently over the set caramel.
Cover the mould tightly with aluminium foil.Place the mould in a larger baking tray and pour in enough hot water to create a water bath, reaching about halfway up the sides of the flan mould.
Bake at 160°C for approximately 2½ hours, or until the edges are set while the centre still has a gentle jiggle.
Refrigerate overnight and serve chilled.
Recipe by Bake with Shivesh at https://bakewithshivesh.com/flan/