Boyzone firm’s cashpile sinks €113k — but they’re due €256,000 from debtors

Accumulated profits at the firm controlled by Boyzone band members last year dipped to €59,533.

New figures lodged by Boyzone’s Lunaria Ltd show the firm’s accumulated profits dropped from €65,035 to €59,533 in the 12 months to the end of August 31.The firm’s cashpile fell from €117,383 to €14,568.

However, this was offset by the money owed to the firm by debtors jumping from €3,748 to €259,424.

The amount owed by the firm to creditors last year increased from €56,220 to €214,483 and a large contributor to the increased in monies owed by the firm was the amount owed to directors going up from €9,299 to €100,990.

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

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

The band celebrated its 20th anniversary last year and performed a string of Irish and UK tour dates later this year to mark their 20 years in the music industry.

The band also last year released BZ20 to mark their 20 years together and it was released in November of last year selling 200,000 copies in the UK alone. The revenues from the album release and tour dates will be seen in accounts to be published next year.

The band continues to add to their coffers performing across the UK over the past number of weeks and will perform at Epsom racecourse tonight. Indicating a much busier year than 2012, the firm owed €58,309 in PAYE/PRSI compared to none owed under that heading at the end of 2012.