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165 Eaton Place moves into the era of the Twenties. The uncertainty of this new age is emphasised as Richard Bellamy's plans for his future with his new wife, Virginia, cause anxiety. The servants below stairs begin to wonder about their security... Edward and Daisy return to Eaton Place to discover that things have changed.

With thousands of former soldiers struggling to survive in civilian life, James Bellamy decides to enter politics on their behalf. One of these victims turns out to be Edward Barnes.

Summer 1921. The Bright Young Things try to forget the war with a fancy-dress party at the Bellamy house. It ends in tragedy.

Autumn 1921. James invites Virginia for a trip in his aeroplane. When they go missing, Lord Bellamy and the rest of the household prepare for the worst. The press suggests that there is more to the story.

Spring 1922. A puppy causes the servants to stand up to Miss Treadwell.

Spring 1923. James Bellamy's love for Diana Newbury is rekindled when he sees her in a London club. When the two spend a weekend in Kent, they start to wonder about their future.

Spring 1924. Hudson's relationship with Lily, the housemaid, causes a lot of friction upstairs and downstairs.

Summer 1925. Sir Guy Paynter, an influential industrialist showers attention on Virginia, and there's another member of the household being courted.

May 1926. The General Strike has different effects on the people of 165 Eaton Place.

September 1926. When Hudson is taken ill just on the eve of an important dinner party, who will take his place? Both Edward and Frederick think they should get a chance.

June 1927. Georgina joins a film production for a lark but doesn't realise that she's being used for a practical joke. Fed up with life as a servant, Frederick seeks a new career as a gigolo.

On holiday in Scotland James and Georgina are confronted with their feelings for each other. Hudson is torn between his duties as a butler and some suspicious actions of his fellow highlanders.

Summer 1928. During a scavenger hunt Georgina accidentally causes a man's death. Suprisingly, it's not her familiar entourage that comes to her aid, but the rather boring Robert, Marquess of Stockbridge.

Summer 1929. Georgina falls in love with Robert Stockbridge. His family has some doubts about the relationship. When Ruby decides to try her luck elsewhere, she discovers the harsh life in the outside world while the servants at Eaton Place struggle with Ruby's replacement.

The Wall Street crash hits Eaton Place. October, 1929. After making a killing on Wall Street, James returns to England with his spirits renewed. His homecoming is a joyous one for the Bellamys, despite Richard's doubts as to the soundness of his son's speculations. Indeed, his fears are prophetic—the stock-market crash wipes out James and Rose, who invested her savings on the strength of James' advice. Enraged, Richard berates James over this and past failures, opening old and still painful wounds.