Hot cake to be reduced by one pound (6)
I believe the answer is:
stolen
'hot' is the definition.
(eg stolen goods are 'hot')
'cake to be reduced by one pound' is the wordplay.
'cake' becomes 'st' (I can't explain this - if you can you should believe this answer much more).
'to be reduced' indicates an anagram.
'by' is a charade indicator (letters next to each other).
'pound' becomes 'L' (the pound sign is based on an L).
'one' after 'l' is 'lone'.
'lone' anagrammed gives 'olen'.
'st'+'olen'='STOLEN'
Can you help me to learn more?
(Other definitions for stolen that I've seen before include "Lifted" , "Pinched" , "without keeping to left" , "subject to plagiarism" , "plagiarised?" .)