Preheat oven to 180 degrees C. Grease a casserole dish. Set aside.
In a medium saucepan heat sugar until it liquefies. If you have a sugar thermometer, cook the sugar without stirring until it reaches 160 degrees C. If not, cook till it becomes a clear amber coloured syrup.
Add the water, cinnamon and cloves. Bring to a boil then reduce heat and simmer. Stir in vanilla.
Layer in prepared casserole dish: half the toast, half the sultanas, half the nuts, half the syrup and half the cheese. Repeat layers. Bake uncovered for 30 minutes. Serve warm.