Preheat the oven to 325 degrees F. Grease a baking or Bundt pan depending on what you have available at home.
Now take a bowl and add the shortening and butter. Mix it well and slowly add the brown and white sugar to it.
The mixing here is very important. Whatever ingredient you add do not stop mixing it. Add eggs gradually one at a time and beat them well to make a thick mixture. Add the vanilla essence in the end, mix it, and keep it aside.
Take a new bowl and add the flour, salt, and baking powder. Mix it and add this mixture in the previous one. Pour the heavy cream and the butter milk too. Fold the mixture well and now you will have just the right consistency for making a pound cake.
You can add some toffee pieces in the mixture or add them as garnishing on the cake.
Add the mixture in the pan and put it in the middle rack of the oven. Bake it for 1 hour and it could take 5 to 10 minutes more. Just check with a toothpick and take out your cake. Let it cool at the room temperature.
Now, it is time to make the caramel frosting. In a sauce pan add the condensed milk and the brown sugar. Keep mixing it and a low heat until the bubbles start to appear. The recommendation is to always cook on a low heat even if you are in a hurry as high flame can burn the texture and the taste of the frosting. You can cook for 5 minutes and the mixture will become thick.
Add it in a bowl and pour the vanilla essence and butter. Mix it well and let it cool.
Pour this delicious caramel sauce on the top of the cake. If there is some leftover of the sauce save it for ice-creams.
Garnish your cake with pecan or toffee.
You can even add some ice-cream on the side.