It is up to every parent to set their own limits on the behavior of their kids but I have two stories from the Bible that illustrate the idea that partying is okay.
First is, of course, Jesus turned water into wine at a celebration. So Jesus is not really anti-party.
Secondly is the book of Ecclesiastes:
"A person can do nothing better than to eat and drink and find satisfaction in their own toil. This too, I see, is from the hand of God," Chapter 2 verse 24
"Go, eat your food with gladness, and drink your wine with a joyful heart, for God has already approved what you do." Chapter 9 verse 7
So even within a Christian scriptural worldview there is nothing wrong with a bit of partying now and then.