Preheat oven to 350°F. Grease a 9x5-inch loaf pan.
In a bowl, sift together flour, sugar, baking powder, salt, nutmeg, and cinnamon.
In a separate bowl, combine milk, melted butter, and egg. Set aside.
Mix cheese and apples into dry ingredients. Add milk mixture and stir only until batter is evenly moistened. Pour into prepared pan.
Bake for 35 minutes, then lower oven to 325°F. Continue baking for another 20 minutes, or until a toothpick inserted into the center comes out clean.
In a pan over low heat, melt the apple jelly. When the bread is done, remove it from oven and pour melted jelly over the top. Let cool in the pan until jelly sets, then remove to a wire rack to cool completely.