In a small bowl, sprinkle the gelatin over the cold water and let sit for 5 to 10 minutes to bloom.
In a saucepan, combine the heavy cream and sugar over medium heat, stirring until the sugar is completely dissolved.
Bring the cream mixture to a gentle simmer, then remove from heat immediately.
Stir the bloomed gelatin and vanilla extract into the warm cream until the gelatin is fully dissolved and no granules remain.
Pour the mixture into four individual ramekins or glasses and refrigerate for at least 4 hours or until completely set.
Prepare the mango topping by blending the mango puree, lime juice, and honey until smooth.
Once the panna cotta is firm, spoon the mango mixture over the top of each serving before chilled service.