Heat the milk and add saffron. Leave for 10 minutes until the color infuses the milk.
Using an electric mixer, beat the heavy cream until whipped cream consistency.
Using a rubber spatula, fold in the saffron milk, rose water and sugar into the whipped cream.
Pour into 4 individual ramekins and chill in the refrigerator for a few hours.
To serve, garnish with chopped nuts and/or fruit.