UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                 Washington, D.C. 20549
                        FORM 10-QSB

[X] Quarterly Report under Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended March 31, 2005.

[ ] Transition report under Section 13 or 15(d) of the Exchange Act
For the transition period from ---- to -----


            Crafty Admiral Enterprises, Ltd.
   --------------------------------------------------
  (Exact name of registrant as specified in its charter)

       Nevada                            88-0455809
--------------------------------      ------------------
(State or other jurisdiction          (I.R.S. Employer
of incorporation or organization      Identification No.)


  Suite 601 - 1383 Marinaside Crescent
       Vancouver, BC, Canada                       V6Z 2W9
-----------------------------------------------    -------
(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code: (604) 612-4847


------------------------------------------------------------------
Former Name, Address and Fiscal Year, if Changed Since Last Report

Check whether the issuer: (1) filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the past 12 months
(or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days. Yes X    No

The number of shares outstanding of the registrant's common stock as
of March 31, 2005 was 21,000,000. Registrant's original registration
statement on Form 10SB and all exhibits thereto, filed under SEC
File Number 0-49725, are incorporated herein by reference.

                                1

<PAGE>

PART I

Financial Information
---------------------

Item 1.  Financial Information

The consolidated financial statements for Crafty Admiral Enterprises,
Ltd. (the Company) included herein are unaudited but reflect, in
management's opinion, all adjustments, consisting only of normal
recurring adjustments, that are necessary for a fair presentation
of the Company's financial position and the results of its operations
for the interim periods presented.  Because of the nature of the
Company's business, the results of operations for the three months
ended March 31, 2005 are not necessarily indicative of the results
that may be expected for the full fiscal year.  The financial
statements included herein should be read in conjunction with the
audited financial statements and notes thereto included in our
Form 10K-SB for the year ended December 31, 2004.























                                  2
<PAGE>


<TABLE><CAPTION>
                       Crafty Admiral Enterprises, Ltd.
                        (A Development Stage Company)
                              Balance Sheets

                              ASSETS
                              ------
                                          March 31     December 31
                                             2005          2004
                                         (Unaudited)    (Audited)
                                          ---------     --------
<S>                                           <C>          <C>
Current Assets
--------------
Cash                                       $  8,719     $  9,869
                                           --------     --------
Total Current Assets                          8,719        9,869
                                           --------     --------
Total Assets                               $  8,719     $  9,869
                                           ========     ========
                            LIABILITIES
                            -----------
Current Liabilities
-------------------
Accounts Payable                                943            -
Officer Advances                              2,298        2,298
                                           --------     --------
Total Current Liabilities                     3,241        2,298
                                           --------     --------
Total Liabilities                             3,241        2,298
                                           --------     --------
Commitments and Contingencies                     -            -
                                           --------     --------

                        STOCKHOLDERS' EQUITY
                        --------------------
Common Stock                                 21,000       21,000
 $.001 par value, 50,000,000 shares
 authorized, 21,000,000 shares
 issued and outstanding.

Additional Paid-In-Capital                   29,000       29,000
Accumulated Deficit during the
Development Period                          (44,522)     (42,429)
                                            --------     --------
Total Stockholders' Equity (Deficit)          5,478        7,571
                                            --------     --------
Total Liabilities and Stockholders'Equity  $  8,719     $  9,869
                                            ========     ========

</TABLE>
The accompanying notes are an integral part of these financial statements.

                               3
<PAGE>
<TABLE><CAPTION>

           Crafty Admiral Enterprises, Ltd.
            (A Development Stage Company)
               Statements of Operations
                     (Unaudited)
                                                     Inception,
                                                   March 6, 2000
                       For the Three Months Ended     Through
                                March 31              March 31
                       --------------------------
                           2005           2004           2005
                        ------------  ------------  ------------
<S>                        <C>           <C>            <C>
Revenues:
---------
Revenues                   $        -    $       -    $        -
                           ----------    ---------    ----------
Expenses:
---------
Professional Fees               2,093        2,697        30,313
Other general and
administrative expenses             -          183        14,209
                           ----------    ---------    ----------
 Total operating expenses       2,093        2,880        44,522
                           ----------    ---------    ----------
 Income (loss)
 from operations               (2,093)      (2,880)      (44,522)
                           ----------    ---------    ----------
Other income (expense):             -            -             -
-----------------------    ----------    ---------    ----------
Income before taxes
on income                      (2,093)      (2,880)      (44,522)


Provision (credit)
for Income Taxes:
-----------------
Income Tax (benefit)                -            -             -
                           ----------    ---------    ----------
 Net Income (Loss)         $  (2,093)    $  (2,880)    $ (44,522)
                           ==========    =========    ==========
Basic and Diluted Earnings
Per Common Share               (0.00)       (0.00)
                           ==========    =========
Weighted Average number of
Common Shares used in per
share calculations         21,000,000    21,000,000
                           ==========    ==========
</TABLE>
The accompanying notes are an integral part of these financial statements.


                                 4

<PAGE>

<TABLE><CAPTION>
                      CRAFTY ADMIRAL ENTERPRISES, LTD.
                      (A Development Stage Enterprise)
                     Statements of Stockholders' Equity
                               (Unaudited)

                                       Accumulated
                                         Deficit
                      $.001   Paid-In   During the   Stockholders'
            Shares  Par Value Capital   Development     Equity
                                          Stage
            ------  --------- -------  ------------  ------------
<S>           <C>      <C>      <C>         <C>        <C>
Balances,
March 6,
2000
(Inception)       -        -        -           -           -

Issuance
of common
stock     2,000,000  $2,000   $  1,000     $  -       $ 3,000

Net Income
(Loss)                                        (2,291)  (2,291)
          ----------------------------------------------------
Balance,
December
31, 2000  2,000,000  2,000      1,000         (2,291)     709
          ===================================================
Issuance
of common
stock
(net of
$3,000
offering
costs)    5,000,000  5,000     42,000          -       47,000

Net Income
(Loss)                                       (10,571) (10,571)
         ----------------------------------------------------
Balance,
December
31, 2001  7,000,000  7,000     43,000        (12,862)  37,138
         ====================================================
Net Income
(Loss)                                       (12,097) (12,097)
         ----------------------------------------------------
Balance,
December
31, 2002  7,000,000  7,000    43,000         (24,959)  25,041
        =====================================================
Net Income
(Loss)          -         -        -         (11,019) (11,019)
         ----------------------------------------------------
Balance,
December
31, 2003   7,000,000  7,000    43,000        (35,978)  14,022
         ====================================================
Effect of
3 for 1
forward
split     14,000,000 14,000   (14,000)             -        -

Net Income
(Loss)          -         -        -          (6,451)  (6,451)
         ----------------------------------------------------
Balance,
December
31, 2004  21,000,000 21,000    29,000         (42,429)  7,571

Net Income
(Loss)          -         -        -          (2,093)  (2,093)
         ----------------------------------------------------
Balance,
March 31,
2005      21,000,000 21,000    29,000         (44,522)  5,478
         ====================================================
</TABLE>
<FN>
The accompanying notes are an integral part of these financial statements.
</FN>
                                    5
<PAGE>s


<TABLE><CAPTION>
              Crafty Admiral Enterprises, Ltd.
              (A Development Stage Company)
                Statements of Cash Flows
                       (Unaudited)
                                                     Inception,
                                                   March 6, 2000
                       For the Three Months Ended     Through
                                March 31              March 31
                       --------------------------
                           2005           2004           2005
                        ------------  ------------  ------------
<S>                        <C>           <C>            <C>
Cash Flows from
Operating Activities:
---------------------
Net Income (Loss)        $   (2,093)   $ (2,881)     $  (44,522)

Changes in operating
assets and liabilities:
Increase (decrease) in
accounts payable                943           -             943
                         ----------   ----------    -----------
Net cash flows from
operating activities        (1,150)      (2,881)        (43,579)
                         ----------   ----------    -----------
Cash Flows from
Investing Activities:             -            -              -
---------------------    ----------   ----------    -----------
Shareholder advance               -            -          2,298
Proceeds from sale of stock       -            -         50,000
                         ----------   ----------    -----------
Net cash flows from
financing activities              -            -         52,298
                         ----------   ----------    -----------
Net increase (decrease)
in cash                     (1,150)      (2,881)          8,719

Cash and equivalents,
beginning of period          9,869       16,320               -
                         ----------   ----------    -----------
Cash and equivalents,
end of period            $   8,719    $  13,439     $     8,719
                         =========    ==========    ===========

Supplemental Disclosures:
Cash Paid for interest   $       -    $        -    $         -
Cash Paid for income tax $       -    $        -    $         -

</TABLE>
The accompanying notes are integral part of the consolidated financial
statements.
                                  6
<PAGE>

                         CRAFTY ADMIRAL ENTERPRISES, LTD.
                          Notes to Financial Statements
                                 March 31, 2005
                                   (Unaudited)

The accompanying unaudited interim financial statements include all
adjustments, which in the opinion of management, are necessary in order
to make the accompanying financial statements not misleading, and are
of a normal recurring nature.  However, the accompanying unaudited
financial statements do not include all of the information and
footnotes necessary for a complete presentation of financial position,
results of operations, cash flows and stockholders' equity in
conformity with generally accepted accounting principles.  Except as
disclosed herein, there has been no material change in the information
disclosed in the notes to the financial statements included our Form
10-KSB for the year ended December 31, 2004.  Operating results for the
three months ended March 31, 2005, are not necessarily indicative of
the results that can be expected for the year ended December 31, 2005.

Note 1  -  Development Stage Enterprise
---------------------------------------
The Company is a development stage enterprise, as defined in the
Statement of Financial Accounting Standards No.7 "Accounting and
Reporting by Development Stage Enterprises". The Company is devoting
all of its present efforts in securing and establishing a new business,
and its planned principal operations have not commenced, and,
accordingly, no revenue has been derived during the organizational
period.

Note 2  -  Going Concern
------------------------
At March 31, 2005, the Company was not currently engaged in a business
and had suffered losses from development stage activities to date.
Although management is currently attempting to implement its business
plan, and is seeking additional sources of equity or debt financing,
there is no assurance these activities will be successful. Accordingly,
the Company must rely on its president to perform essential functions
without compensation until a business operation can be commenced.
These factors raise substantial doubt about the ability of the Company
to continue as a going concern.  The financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.

Note 3 - INCOME TAXES
---------------------
The Company follows Statement of Financial Accounting Standards Number
109 (SFAS 109), "Accounting for Income Taxes." Deferred income taxes
reflect the net effect of (a) temporary difference between carrying
amounts of assets and liabilities for financial purposes and the
amounts used for income tax reporting purposes, and (b) net operating
loss carryforwards. No net provision for refundable Federal income tax
has been made in the accompanying statement of loss because no
recoverable taxes were paid previously. Similarly, no deferred tax
asset attributable to the net operating loss carryforward has been
recognized, as it is not deemed likely to be realized.


                                 7
<PAGE>

                        CRAFTY ADMIRAL ENTERPRISES, LTD.
                          Notes to Financial Statements
                                 March 31, 2005
                                   (Unaudited)

The provision for refundable Federal income tax consists of the
following:

<TABLE><CAPTION>
                                   March 31,       December 31,
                                       2005              2004
                                 (Unaudited)          (Audited)
                                 ------------------------------

                                  <c>                 <c>

Refundable Federal income
tax attributable to:

 Current operations                $(700)             $(2,200)
 Less, Change in
 valuation allowance                 700                2,200
                                 ------------------------------
    Net refundable amount              -                    -
                                 ==============================

</TABLE>

The cumulative tax effect at the expected rate of 34% of significant
items comprising our net deferred tax amount is as follows:
<TABLE><CAPTION>
                                   March 31,       December 31,
                                       2005              2004
                                 (Unaudited)          (Audited)
                                 ------------------------------

                                  <c>                 <c>

Deferred tax asset attributable to:

 Net operating loss carryover      $ 15,100          $ 14,400
 Less, valuation allowance          (15,100)          (14,400)
                                 ------------------------------
    Net deferred tax asset                -                 -
                                 ==============================

</TABLE>

At December 31, 2004, we had an unused net operating loss carryover
approximating $42,400 that is available to offset future taxable
income; it expires beginning in 2020.

                                8
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

The following discussion should be read in conjunction with the information
contained in the audited financial statements and notes thereto set forth in
our Annual Report on Form 10-KSB for the year ended December 31, 2004, which
can be found in its entirety on the SEC website at www.sec.gov, under our
SEC File Number 0-49725.

Note Regarding Forward-Looking Statements
-----------------------------------------
The statements contained in this Form 10-QSB that are not purely historical
are forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These include statements about our
expectations, beliefs, intentions or strategies for the future, which are
indicated by words or phrases such as anticipate, expect, intend, plan,
will, the Company believes, management believes and similar words or
phrases. The forward-looking statements are based on our current
expectations and are subject to certain risks, uncertainties and
assumptions. Our actual results could differ materially from results
anticipated in these forward-looking statements. All forward-looking
statements included in this document are based on information available
to us on the date hereof, and we assume no obligation to update any such
forward-looking statements.

General
-------
Crafty Admiral Enterprises, Inc. was incorporated in the
State of Nevada on March 6, 2000. The corporation was originally
organized to engage in the business of the sale of classic auto
parts to classic auto owners all over the world through its
Internet site/online store; however, Registrant was unsuccessful
in implementing its online store and was unable to afford the
cost of purchasing, warehousing and shipping the initial
inventory required to get the business started.  As a result,
Registrant ceased operations in approximately July 2002.

Registrant is presently inactive and has not conducted any
business since July 2002. The sole officer and director determined
that it would be in the best interest of the shareholders of the
corporation that Registrant should become active again and begin
seeking potential operating businesses and business opportunities
with the intent to acquire or merge with such businesses.
Registrant is considered a development stage company, and due to
its status as a "shell" corporation, its principal business
purpose is to locate and consummate a merger or acquisition with
a private entity. No representation is made or intended that
Registrant will be able to carry out its proposed activities
successfully or profitably.

Results of Operations
---------------------
Three Months Ended March 31, 2005 compared to Three Months Ended
March 31, 2004
-----------------------------------------------------------------
We had no revenues for the three months ended March 31, 2005.

Operating expenses were $2,093 for the three months ended March 31,
2005, as compared to $2,880 for the three months ended March 31, 2004.
These expenses were mainly attributed to professional fees incurred to
prepare and file Registrant's quarterly and annual reports with the
U.S. Securities and Exchange Commission.

                                 9
<PAGE>

Net loss was $2,093 or $NIL per share for the three months ended March
31, 2005, as compared to a net loss of $2,880 or $NIL per share for the
three months ended March 31, 2004.

Liquidity and Capital Resources
-------------------------------
At March 31, 2005, we had $8,719 in cash in the bank.

Net cash flow from operating activities for the three months ended
March 31, 2005 was ($1,150) as compared to net cash flow from operating
activities of ($2,881) for the three months ended March 31, 2004.

There were no cash flows from either investing or financing activites for
the three months ended March 31, 2005.

Our stockholders' equity was $5,478 at March 31, 2005.

While we believe our current capital will be sufficient to meet our cash
flow needs for the next 12 months, there can be no guarantee.

In the next 12 months, we do not intend to spend any substantial funds on
research and development and do not intend to purchase any major equipment.

We do not intend to hire any new employees during the ensuing year

We do not anticipate any material commitments for capital expenditures
in the near term. We are not aware of any trend in our industry or capital
resources which may have a negative impact on our income or revenues.

Off-Balance Sheet Arrangements
------------------------------
We have no off-balance sheet arrangements.

ITEM 3.   CONTROLS AND PROCEDURES
---------------------------------
Critical Accounting Policies
----------------------------
The financial statements included herein have been prepared
pursuant to the rules and regulations of the Securities and
Exchange Commission. Management believes the disclosures
made are adequate to make the information not misleading.
The financial statements and accompanying notes are prepared in
accordance with generally accepted accounting principles.
Preparing financial statements requires Management to make
estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the reporting
period. These estimates and assumptions are affected by Management's
application of accounting policies. These important accounting
policies include the successful efforts method of accounting
for property and equipment, revenue recognition, accounting for
income taxes and foreign currency translation.

                                  10
<PAGE>

Management maintains disclosure controls and procedures designed
to ensure that we are able to timely collect the information
we are required to disclose in our reports filed with the
U.S. Securities and Exchange Commission. Within the 90 days
prior to the date of this report, we performed an evaluation,
under the supervision and with the participation of our Management,
of the effectiveness of the design and operation of our disclosure
controls and procedures pursuant to Exchange Act Rule 13a-14.
Based upon the evaluation, our Principal Executive Officer and
Principal Financial Officer concluded that the current disclosure
controls are effective in timely alerting us to any material
information required to be included in our periodic SEC filings.

We also maintain a system of internal controls designed to
provide reasonable assurance that (i) transactions are executed
in accordance with Management's general and specific
authorization; (ii) transactions are recorded as necessary to
permit preparation of financial statements in conformity with
generally accepted accounting principles and to maintain
accountability for assets; (ii) access to assets is permitted
only in accordance with Management's general or specific
authorization; and (iv) the recorded accountability for assets
is compared with the existing assets at reasonable intervals
and appropriate action is taken with respect to any differences.
We believe that our internal controls are effective to provide
reasonable assurance that our financial statements are fairly
presented in conformity with generally accepted accounting
principals. Since our most recent evaluation, there have been
no changes in our internal controls or in other factors that
could significantly affect our internal controls, nor were any
corrective actions required with regard to significant
deficiencies and material weaknesses.

                  PART II - OTHER INFORMATION

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

A)   The following exhibits are included herein, except for the
exhibits marked with an asterisk, which are incorporated herein
by reference and can be found in Registrant's original Form 10-SB
Registration Statement, filed on May 6, 2003, under SEC File
Number 0-49725 at the U.S. Securities and Exchange Commission's
website (www.sec.gov).

<TABLE><CAPTION>

             <c>
Exhibit No.     Description
-----------      -----------
* 3(i)          Articles of Incorporation
* 3(ii)         Bylaws
 99.1           Sec. 302 Certification
 99.2           Sec. 906 Certifications
</TABLE>

B)   One report on Form 8-K filed was during the quarter to disclose our
change in accounting firms due to the resignation of our previous auditors.
The Form 8-K can be found in its entirety on the SEC website at
www.sec.gov under our SEC File Number 0-49725.

                            11
<PAGE>


                       SIGNATURES
                       ----------
Pursuant to the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
                              Crafty Admiral Enterprises, Ltd.,
                              a Nevada corporation

May 15, 2005                  By:/s/ Lawrence Siccia,
                              President, CEO, CFO, Principal
                              Accounting Officer and Chairman
                              of the Board of Directors


In accordance with the Exchange Act, this report has been signed
below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.

                              Crafty Admiral Enterprises, Ltd.,
                              a Nevada corporation

May 15, 2005                  By:/s/ Lawrence Siccia,
                              President, CEO, CFO, Principal
                              Accounting Officer and Chairman
                              of the Board of Directors








                                   12
<PAGE>