Here's a recipe (http://www.greenchronicle.co.uk/connies_cornish_kitchen/saffron_cake_recipe.htm) which is very close to the one my mother uses:

Mind you, you might not like the stuff at all. My husband still can't believe that anyone in their right mind would touch it -- but then my
two very picky preschoolers, who have turned down even some truly delectable desserts in their time, mug me for it every time they see me with a piece. Must be in the genes.

Oh, and saffron is the world's most expensive spice, so be forewarned about that too. There's a reason we only make it once a year...