Old model showing, despite not existing

A while back I was working on a model, but I seem to hit a strange issue.

I have been decompiling and recompiling a model.

When I loaded the game up, it shows an old version of the model,
yet the old version has been replaced and no longer exists.

I confirmed this using the console command “+mat_texture_list” and cvar “developer 2”

Two other models I have done using the same approach work fine.

An extra step I took is checking the file with a hex editor for any references to the old texture and none exist.

So I can only think that the cache has recalled the older model file.

I have tried deleting gmod and its folder from steamapps\common, this had no effect.

Anyone else had similar or know where source puts cache files aside the game folder?