Sugar daddy parties, where well-heeled gentlemen pay young women for the pleasure of their company, are on their way to the UK.

US- based Alan Schneider, sugar daddy party organiser, says he wants to bring his successful nights to London.

At the beginning of each event, Schneider breaks the ice by stepping up to the microphone and announcing, “Men, you know what to do, women, receive their generosity. We will touch you with passion and fire all night long.”

The men are usually wealthy, over 40 and are well outnumbered by a bevy of young, good-looking females.

The events are already becoming a regular feature in New York and the company organising the events aim to bring them to venues in London, Manchester, Birmingham and Glasgow.

When a couple get together they will usually form an arrangement or “agreement”, usually in the form of lavish gift for the lady or a sum of money each time they meet.

Schneider, himself a sugar daddy, added: “Traditional relationships of men being the provider and women being the caretaker of the family are coming back now,” he says. “They’re coming back because of the economy.”

Schnedier denied that the arrangement was a form of prositution.

“It’s an understanding between both parties as adults to move forward at an introductory level that there’s going to be compensation.

“Personally, I never offer money in the beginning.

“If a woman comes to me and says ‘I need $5,000 (£3,136) to continue the relationship’ then we’re done.”

Mandy, a 24-year old New York resident, told BBC Newsbeat she had no qualms about attending the party.

“I’m looking to find a boyfriend who’s willing to help me out with what I’m doing right now,” she says. “Like a regular boyfriend but richer.

“I’m studying at the moment and college is expensive. It works well for me if I start dating a guy who I know can take care of me financially so I no longer have to worry.”