Pour sugar in a pan with the water and bring to a boil. Do not stir the mixture and the sugar will brown.
When the sugar has reached a deep caramel color remove from the heat and add the heavy cream. Whisk until the cream is completely incorporated and set aside.
Making the custard
In a large bowl whisk the eggs and spices.
Add the cream and then the caramel sauce and whisk until combined.
Add the apples and bread. Toss to combine and allow the bread to soak for 15 minutes. Pour the bread mixture into the baking dish and bake for 30-45 min.