Preheat the oven to 325 degrees F (165 degrees C). Grease and flour a 9 inch Bundt pan.
In a large bowl, stir together the sugar and oil. Beat in the eggs until light, then stir in the honey and vanilla. Combine the flour, baking powder, baking soda, salt, cinnamon and allspice; stir into the batter just until moistened. Fold in the apples and nuts.
Bake for 50 to 65 minutes in the preheated oven, or until a toothpick inserted into the crown comes out clean. Let cool for 10 to 15 minutes before inverting onto a plate and tapping out of the pan.