Preheat oven to 360 degrees F/ 180 degrees C. Line a small baking pan with parchment paper (7 inch/ 18 cm round or a rectangular with similar size). Grease very well inside the pan.

In a cup combine sour cream, water and vinegar. Mix very well with a hand whisk.

In a bowl combine sugar, flour, beetroot powder, cocoa powder and baking powder. Stir to combine.

Add egg, vanilla and vegetable oil and whisk again. Gradually add the sour cream mixture and whisk until smooth.

Transfer the batter to the prepared pan.

Bake for about 30 minutes or until a toothpick, inserted in the centre comes out clean.

Let the cake cool until room temperature and then make it into crumbs.

In a large mixing bowl combine sweetened condensed milk, cream cheese, sour cream and vanilla. Beat with the mixer for 2-3 minutes, until smooth.

Transfer about half of the mixture (or less) to another bowl. Add the beetroot powder and the cocoa powder to it. Whisk very well to remove any lumps.

In a loaf pan or a freezer container start layering the ice cream: first pour half of the white mixture, followed by half of the red mixture. Sprinkle half of the crumbs over the ice cream.

Spread the remaining mixtures on top, following the same order.

Cover the tin with cling film or close the container with a lid. Freeze for 8 hours.

Before serving, leave the ice cream at room temperature for 10-15 minutes.