Heat the milk and crushed saffron in a non-stick sauce pan and bring to boil. Add rice and cinnamon. Reduce the heat and simmer uncovered, for 25 minutes, stirring frequently until the rice is tender. Remove the pan from fire and take out the cinnamon stick. Add sugar, raisins and apricots. Then beat in the egg, cream and diced butter.
Pour the mixture to an ovenproof dish, sprinkle with the almonds and freshly grated nutmeg. Place in a preheated oven, 1600C/3250F, for 25-30 minutes until mixture is set and lightly golden. Serve hot with cream.