Step 1

Grease a 24cm (9½-inch) round springform pan; line base and side with baking paper, extending paper 3cm (1¼ inches) beyond rim.

Step 2

Trim waffles straight lengthways, following the natural waffle pattern. Place approximately five waffles, lengthways around inside edge of pan to create a collar. Trim remaining waffles horizontally on both sides to flatten and remove waffle pattern; place in base of pan, trimming to fit.

Step 3

Beat caramel, cream cheese and liqueur in a large bowl with an electric mixer until smooth and well combined. Fold in half the honeycomb bar. Spoon mixture into the waffle-lined pan; smooth level. Freeze overnight.

Step 4

To serve, top cake with orange slices, mandarin segments and remaining honeycomb bar. Drizzle with a little caramel sauce. Serve frozen slices, drizzled with remaining sauce.