Tip the milk, 25g of the butter, the bay leaf, peppercorns, thyme sprig, garlic and shallots into a pan. Bring to a simmer over a low heat and cook for 20 mins, stirring every now and then, so the milk doesn’t catch.
Meanwhile, melt the rest of the butter in a small frying pan over a low heat and cook for 8-10 mins until it turns a nutty brown colour. Remove the pan from the heat.
Remove the shallots from the milk using a slotted spoon and transfer to kitchen paper to drain. Leave to cool. Strain the milk, discarding the solids, and return it to the pan.
Tip all but a few of the almonds into a food processor and blitz until finely chopped. Stir into the pan of milk along with the breadcrumbs.
Finely slice the cooled shallots. Add these and the oil to the pan of brown butter and fry over a medium-low heat for 20-25 mins until the shallots have caramelised. Remove from the heat and spoon all but 1 tbsp into the milk mixture.
Simmer the milk mixture over a medium heat for 3-4 mins, stirring frequently. Stir in the cream, then spoon into a serving bowl. Will keep covered and chilled for up to three days. Season with a grating of nutmeg, if using. Spoon over the reserved shallots and scatter over the remaining almonds.
