Heat butter in a small saucepan over medium heat. Add garlic and saute for just 1-2 minutes (you don't want to brown the garlic). Carefully add Madeira and thyme sprigs. Bring to a boil and reduce to a simmer. Simmer until wine is reduced by half.
Pour in heavy cream and bring back to a boil. Reduce to a simmer and continue simmering until mixture is reduced slightly and thickened (coats the back of a spoon). Remove from the heat and pour through a sieve into a small pitcher or container. Serve hot or at room temperature over beef, chicken, or fish.
For the Filet Mignon
Dry filets fully with paper towels and season on all sides with salt and pepper. Bring them to room temperature.
*Make sure you have good ventilation for this step* This can also be done on the grill outside (directly in the cast iron skillet). Preheat the oven to 500°F. Heat cast iron skillet (or other oven-safe skillet) over high heat until smoking. Drop 2 tablespoons of butter into the hot pan and let it sizzle and brown slightly. Place seasoned filets in melted butter and don't touch for 2 minutes (set a timer).
Using tongs, carefully flip filets over to sear on the opposite side for another 2 minutes (set a timer again). Place skillet in preheated oven and set a timer for 5 minutes.
Remove from the oven and place steaks onto another plate and cover with foil; let rest for 5-7 minutes. Serve with the sauce (and extra for dipping on the side because everyone will love it so much they'll want more)😋
Notes
Madeira sauce will keep in the fridge for up to one week. It can be frozen, but will need to be reheated on a very gentle and low flame so as not to cause separation. When reheating, a little extra cream may be needed to bring it back together.