Preheat Oven: Set your oven to 180°C (160°C fan-forced). Grease and line a 20cm round cake pan with baking paper.

Mix Ingredients: Using electric beaters, beat the butter until pale and creamy. Gradually add the condensed milk, beating until well combined. Add the eggs one at a time, beating well after each addition.

Add Flour: Sift the self-raising flour over the mixture and fold through with a spatula until just combined.

Bake: Pour the batter into the prepared pan and smooth the top. Bake for 40 minutes or until a skewer inserted into the center comes out clean.

Cool: Allow the cake to cool in the pan for 10 minutes before transferring to a wire rack to cool completely.

Serve: Dust with icing sugar or serve with cream or ice cream, if desired.