Firm controlled by Boyzone cuts losses in half to €75k

Losses at the firm controlled by Boyzone band members more than halved to €75,448 last year, new figures show.

Abridged accounts filed by Lunaria Ltd show losses reduced by 59%, from €185,307 to €75,448, in the 12 months to the end of last August.

The directors of Lunaria Ltd are listed as Boyzone band members Ronan Keating, Keith Duffy, Mikey Graham, and Shane Lynch.

The Dublin-based band has had nine Irish No 1 singles and six No 1 hits in Britain, selling millions of records worldwide.

The band is set to tour next year to celebrate their 20th anniversary, having been formed by Louis Walsh in 1993.

The returns show the estate of deceased band member Stephen Gately retains a 20% shareholding in the company.

Mr Gately died of natural causes while holidaying in Majorca in 2009.

Last year, the four remaining members of Boyzone paid tribute to Gately by staging the 25-date Brother tour, with Billboard estimating that Boyzone generated €7.5m from British and Irish tour dates.

The figures for Lunaria Ltd — signed off by Duffy and Graham — show the company’s cash pile reduced sharply during the year, from €515,789 to €130,220.

The loss last year reduced the firm’s shareholder funds from €133,690 to €58,242.

According to the accounts, “the shareholders have confirmed that they will continue to provide the company with the financial support necessary for it to meet its obligations as they fall due for at least 12 months following the date of signing of these financial statements”.

As it is a small firm, Lunaria Ltd is not required to disclose revenues and payments — if any — to directors and shareholders.

The figures show the money owed to the company’s creditors fell from €1.2m to €83,293 last year.