Preheat the oven to 180 °C (350 °F). Butter a 25-cm (10-inch) Bundt pan.
In a saucepan, cook the apples, cranberries, sugar and water over high heat until the liquid has evaporated. Cool slightly and spread over the bottom of the pan.
In a bowl, cream the butter and sugar with an electric mixer. Add the egg and vanilla and blend well.
In another bowl, combine the flour and baking powder. With a wooden spoon, stir in the dry ingredients alternately with the milk. Spread the batter over the topping. Bake in the middle of the oven for about 40 minutes or until a toothpick inserted in the centre of the cake comes out clean.
Let cool for 5 minutes. Gently loosen the cake from the pan with a knife and unmould onto a serving plate.
Recipes with the "Healthy Pick" stamp have been evaluated by a registered dietitian member of the Ordre professionnel des diététistes du Québec.