Combine the water and honey in a non-stick deep pan and bring to boil in medium to low heat. Keep stirring so that the honey doesn't get burned at the bottom, boil it for about 5 minutes until syrupy.
Dip your hands in cold water and touch the honey between your two fingers, it should stick and form like a thread, at this immediately remove from the flame, beat in the butter until it's melted, add the extract, sift the milk powder and cocoa and beat stiffly without any lumps.
It should come together like a very thick batter. At this pour it in a greased and lined tray, or pour it in a silicon mould.
You can also roll between your palms like truffles and roll it in desiccated coconut or nuts.
Leave it cool for 1 to 2 hours and cut into squares from the tray or remove from the silicon mould.