The waterfall can be impressive after a lot of rain, but without the rain it dries to just a trickle. It's quite interesting to see where the water goes after reaching the bottom: most of it flows underground. If you walk away from the waterfall for about 10m you will hear the water flowing underground, and you can look under a small crag to see it flowing under the ground you are standing on. Walk further from the falls and you will see the large rusted covers to an old well where the water from the falls ends up before it continues onward. Lift the covers and you will see old, rusted pipework that is now disconnected and lying in/beside the well. We don't know what it was used for, but would be interested to hear if anyone knows.
Above the falls is a nice little pool which is worth a look while you're here.
The cache itself is nearby.
Please be careful if approaching the waterfall from above as it drops very suddenly.