Line a 20 x 20 cm square tin with baking paper.
In a medium saucepen, melt the butter. Add the coconut, condensed milk, sugar, milk and vanilla essence and mix well.
Stir over low / medium heat until the mixture begins to come together. Stir constantly so it does not burn. Should take approx 10-15 minutes.
Press firmly into the tin using the back of a spatula (place a piece of grease proof paper before pressing mixture).
Refridgerate for 1 hour and slice into squares without removing from tray. Put it back into the fridge and leave it overnight.