Preheat oven to 350°F. Grease a 9x13 baking pan.
In a large bowl, cream together butter and sugar until smooth. Mix in egg and molasses.
In a separate bowl, whisk together flour, baking soda, cinnamon, ginger, cloves and salt.
Add dry ingredients to wet and mix well. Pour in hot water and stir until fully combined.
Pour batter into prepared pan. Bake 20-35 minutes until a toothpick comes out clean.
Meanwhile, make vanilla sauce by combining sugar, butter, cream in a saucepan. Heat, stirring frequently, until boiling. Boil 3-5 minutes. Remove from heat and stir in vanilla.
Allow cake and sauce to cool slightly. Serve cake warm topped with whipped cream, bananas and drizzled vanilla sauce.
Store leftover cake at room temperature up to 2 days or refrigerated up to 1 week. Sauce keeps refrigerated in airtight container.