In a mixing bowl, combine the plain flour, caster sugar, and baking powder. Whisk these dry ingredients together until well mixed.

In a separate small bowl, crack the egg and whisk it lightly until the yolk and white are fully combined.

Create a well in the center of the dry ingredients. Pour in the whisked egg, followed by the milk and vanilla extract. Whisk everything together until you have a smooth, lump-free batter.

Place a frying pan over medium heat and allow it to warm up. Lightly grease the pan with butter or oil to prevent sticking.

Pour a small amount of batter (about 1/4 cup) into the frying pan, forming a circle. Cook for 1-2 minutes, or until bubbles begin to form on the surface and the edges look set. Flip the pancake and cook for another 1-2 minutes, until golden brown.

Transfer the cooked pancake to a serving plate and repeat the process with the remaining batter. Serve the pancakes warm with your favorite toppings, such as maple syrup, fresh berries, or whipped cream.