I work in professional services so it's fully funded by the company - dinner and dancing, drinks, usually some form of entertainment in a posh hotel. We don't get a plus one, I think that's pretty rare these days. Our team also get a £50pp budget for a team meal. They also do a kids party in working hours with food and a kids entertainer. I think it's lovely. I haven't been to the big do in the last few years as I only work part time now and honestly just the travel and a new dress (it's very formal) would easily cost £150-200. There's usually a nail tech/hairdresser who comes into the office which you can pay for 😂.
People from our non-London offices get travel and a hotel paid for.
My colleagues are all pretty nice.
I'd pay £30 for a meal with colleagues but not funding it would definitely reduce the appeal. One went off on maternity leave recently though and I was happy to pay for a lunch and towards a small gift say £5 each.
Usually my immediate team do a secret Santa or small gifts too.
My first job in a shop we had to pay for a meal in Pizza Express ourselves. Seems a bit unfair that some of the lower paid roles are expected to self fund.
I guess the social events are part of the benefits / workplace proposition for my current company who, to be fair, are competing with bigger firms paying more - but we are selling that we have good benefits/culture/enviroment/nice people/flexibility/better work-life balance.