Preheat oven to 190C/375F/Gas 5. Lightly grease flat baking trays.
Put margarine into a bowl and beat. Add sugar and beat until light and fluffy.
Gradually beat in the beaten egg and vanilla essence. Add the flour and draw mixture together into a ball with your hands.
Lightly flour a work surface and roll out the dough until it is the thickness of a coin. Use cutters to make shapes (stars, hearts, Christmas trees etc.) and make holes for ribbon with a skewer or cocktail stick. Lift onto baking trays. Press silver balls onto dough.
Bake biscuits for about 8 minutes until just pale in colour. Leave to harden for a few minutes, then transfer to a wire tray to cool