In a large mixing bowl, beat together the butter and sugar until light and fluffy. Then add the egg yolk, followed by the molasses and vanilla, beating to combine.
Sift the flour, baking soda and spices together in a separate bowl. Add these to the sugar mixture a bit at a time, mixing with a spatula to incorporate.
When the dough becomes too thick to stir, use your hands to knead this together. Work the dough until it is no longer crumbling apart, then form into a ball. Wrap this in cling film or plastic wrap and gently flatten into a disc. Place this in the refrigerator to chill for at least 1 hour.
Meanwhile pre-heat your oven to 350°F (175C/155C Fan) and line a couple of cookie sheets with parchment paper or silicone baking mats.
After the dough has chilled, take out of the wrapping and break in half or into thirds. Working with one at a time, place on a floured work surface and roll out to be about ¼" thickness.
Using a sharp knife cut out the shapes or your template or use cookie cutters. Transfer these to the cookie sheets spaced about 1" apart and bake in the oven for about 12 minutes.
Once baked, allow to cool for about 5 minutes on the tray before transferring to a wire rack to cool completely.
Continue to repeat the process, kneading any scraps together and re-rolling the dough until you have finished baking.