Combine all the ingredients in a heavy-based saucepan and boil until the mixture reaches a temperature of 125˚C. Alternatively, drop a little mixture into a glass of cold water and test for the correct consistency.
Brush a tin measuring about 18 x 25 cm with oil and pour in the toffee mixture. Leave to set for 24 hours. Cut the toffee into pieces and wrap in greaseproof paper or cellophane.
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