Preheat your oven to 180 C or 350 F. Grease and dust an 8.5 into 4.5 baking loaf tin with butter and flour.
Beat soft butter using an electric beater for 2 minutes.
Add condensed milk, vanilla and continue to beat until light and pale.
Sift flour, baking powder and salt directly over the wet ingredients. Mix well.
Add milk starting from 1/2 cup and work your way to make a thick yet flowing batter. Do not over mix the batter.
Pour into the greased baking tin, sprinkle the almond flakes on top (if using) and bake for 25-35 minutes. Let the cake cool for 30 minutes once baked. Slice and serve butter cake as needed.
Notes
I used 1.25 cups of milk. This cake keeps well at room temp for 2-3 days in an airtight container. You can eat it plain or serve it with some ice cream and fruits.