Combine flour, baking powder, baking soda, salt, sugar, and spices in a large bowl. Slowly add half the milk, forming a thick paste. Once no lumps remain, add the remaining liquid, vanilla, and egg, stirring until smooth. Wash and peel carrots. Using a food processor, coarsely grate carrots. Transfer to a bowl and change attachment to the general blade. Return carrots to processor and run until carrots are almost pureed. Add to batter. Then add raisins and walnuts to food processor and run until fine. Stir into batter, making sure to break up any clumps. Stir in oil. Cover and refrigerate overnight.
In the morning, spoon onto a hot griddle (on high) coated with nonstick cooking spray. Allow to cook at least 5 minutes per side, or until cooked through. Allow to bake at 250 degrees on a parchment paper lined baking sheet until ready to serve. Serve with a dollop of cream cheese topping and a dusting of powdered sugar.
Cream together 4 ounces room temperature cream cheese, 2T milk, ½ teaspoon vanilla, dash of cinnamon, and powdered sugar to taste (about ¼ cup). Serve room temperature.