Put the ketchup, brown sugar, molasses, apple cider vinegar, tomato paste, Worcestershire sauce, soy sauce, paprika, garlic powder, onion powder, chili powder, salt and honey into a medium saucepan. Give everything a good whisk until the mixture turns smooth and evenly combined.

Set the saucepan over medium heat and keep stirring as the sugar dissolves. Let the sauce warm until it starts to gently bubble around the edges. Keep the heat controlled rather than letting it boil hard, which can make the sauce too thick or cause it to catch on the bottom.

Turn the heat down to low and let the sauce gently simmer for 15–20 minutes. Stir it from time to time, making sure nothing sticks to the bottom. The sauce is ready when it looks glossy and smooth and lightly coats the back of a spoon.

Take the saucepan off the heat and leave the sauce to cool completely. Pour the cooled BBQ sauce into a clean glass jar or airtight container and store it in the refrigerator. Letting it rest before serving gives the flavors time to come together and makes the sauce taste even better.