Grease and flour a 9-inch square baking pan or spray with a baking spray with flour. Heat oven to 325°. Beat butter and sugar together, add egg, molasses, salt, baking soda, and spices. Beat until well blended. Add water and blend then add flour and beat on medium for about 3 minutes. Pour the batter into the prepared baking pan.

Bake for 45 to 50 minutes, or until a cake tester or toothpick inserted into the center of the cake comes out clean. Cut into squares and serve with freshly whipped cream, lemon curd, powdered sugar or buttercream frosting.