In a medium bowl, cream together butter, sugar, eggs, ricotta cheese and vanilla essence. Combine the flour, baking powder and bicarb soda; blend into the creamed mixture, mixing in additional flour as necessary to form a workable dough. Roll dough into teaspoon-sized balls, and arrange on an ungreased baking tray.
Bake 8 to 10 minutes in the preheated oven, until lightly browned.
In a medium bowl, beat milk, icing sugar and almond essence until smooth. Spoon over warm biscuits, and sprinkle with sprinkles.