Preheat oven to 375°F. Spray a large bundt pan with cooking spray, set aside. Cream butter and sugar with mixer until smooth. Add egg, beat well. Stir in applesauce. In bowl, mix flour, baking powder, baking soda and spices. Add to butter mix. Beat until well blended. Add raisins and nuts. Stir to blend. Turn batter into bundt pan.
Bake for about 40-45 min or until toothpick inserted in center of cake comes out clean. Let cake rest for 10 min, then turn out onto a rack.
Mix powdered sugar and apple juice. Pour over cake for glaze.