Butter a 2-quart baking dish. . Toss the cubed bread and apples in a large bowl, and then arrange them evenly in the dish.
In a medium bowl, mix together the eggs, cream, milk, honey, vanilla, salt, cinnamon and nutmeg. Pour the liquid mixture over the bread and apples. Refrigerate for about 2 hours.
Preheat the oven to 375 degrees F.
Put the baking dish in a larger metal roasting pan. Pour hot water into the roasting pan until it comes about 1 inch up the side of the baking dish. Bake until the pudding is firm and the top is golden brown, about 1 1/2 hours. Cool slightly, dust with powdered sugar and serve.