In a large skillet cook pork chops in butter for 5 minutes. Turn over chops and add carrot. Cook another 5-7 minutes until cooked through. Remove chops. Reserve drippings and carrot.
Stir flour, thyme, bouillon and pepper into drippings and carrot. Add cream. Cook until thickened, stirring constantly. Stir in water.
Return chops to skillet until heated through. Spoon sauce over chops when serving.