Preheat oven to 180 degrees C. Grease and flour one 23cm ring tin.
In a saucepan combine raisins with water and cook until the water is absorbed, cool.
Combine eggs, apple sauce, vegetable oil, vanilla and liquid sweetener. Mix well. Sift flour, bicarb soda, salt, ground cinnamon and ground nutmeg into egg mixture. Stir until just combined. Mix in raisins and chopped nuts. Pour batter into prepared pan.