Preheat the oven to 350 degrees.
Caramel: Heat sugar & water in a heavy bottom sauce pan. Stir occasionally until sugar liquefies and turns a medium amber color. Pour equal amounts into approximately 10 ramekins, swirling the ramekins while pouring to create an even coating on the bottom and slightly up the sides.
Flan: Boil a kettle of water. Combine all the flan ingredients and whisk together until smooth. Pour the mixture in equal amounts into the ramekins.
Place the ramekins in a baking pan. Fill the baking pan with the water from the kettle, surrounding the ramekins to about half way up the ramekins. Bake for 45 minutes then let cool before placing the flan in the fridge.
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