Lightly oil your moulds with a neutral oil - this will prevent the panna cotta from sticking to the mould later.
Heat milk, cream and vanilla until just starting to boil - turn off the heat, cover and let it steep for 5 min.
Add the sugar and return to low heat, stirring until dissolved (around 3 min). While you’re doing that, soak the gelatin leaf in cold water to allow it to bloom - this will prevent the panna cotta from being grainy!
Squeeze out excess water from the gelatin leaf then add directly to the hot milk mixture - stir until dissolved over a low heat.
An optional step is to strain the liquid into a bowl set over a larger bowl filled with iced water, stirring frequently over 15 minutes until it cools and thickens slightly. This should help prevent the vanilla from sinking to the bottom.
Pour into your desired vessels and refrigerate for 6 hours or overnight if making two large ones, or 4 hours if making smaller ones.
To serve, use a knife to gently and carefully pull the panna cotta away from the mould and break any air seal, letting it drop directly onto a plate.
If you are doing a scooped serve, warm a large spoon in hot water first and carefully scoop and plop the panna cotta down onto a plate, with the spoon side facing up. Please note that this panna cotta recipe is very jiggly and less on the firm jelly side, so it can be a bit tricky to keep it in one scooped piece.
Spoon over a couple of tablespoons of the cherry compote (I serve this chilled but you could also heat the compote if you like).