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 September 30, 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 September 30, 2005 was 42,000,000. Registrant's original
registration statement on Form 10SB and all exhibits thereto, filed
under SECFile 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 September 30, 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
                          (Expressed in U.S. Dollars)

                                              As at        As at
                                       September 30  December 31
                                               2005         2004
                                         (Unaudited)    (Audited)
                                                  $            $
                                       ------------  -----------
<S>                                         <C>           <C>
Assets
------
Current
-------
Cash and cash equivalents                    21,525        9,869
                                           ========     ========
Liabilities
-----------
Current
-------
Accounts payable and accrued
liabilities (Note 3)                            415            -
Officer Advances (Note 4)                     2,298        2,298
                                           --------     --------

Convertible debentures (Note 5)              20,000            -

Stockholders' equity
--------------------
Capital stock (Note 6)

Authorized
 30 Septembe 2005 - 300,000,000 common
 shares, par value $0.001 and 50,000,000
 preferred shares, par value $0.001
 31 December 2004 - 50,000,000 common
 shares, par value $0.01
Issued and outstanding
 30 September 2005 - 42,000,000 common
 shares
 31 December 2004 - 21,000,000 common
 shares                                      42,000       21,000
Additional paid-in capital                    8,000       29,000
Deficit, accumulated during the
 development stage                          (51,188)     (42,429)
                                          ---------     --------
                                             (1,188)       7,571
                                          ---------     --------
                                             21,525        9,869
                                          =========     ========
Nature and Continuance of Operations
(Note 1)

</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
                            (Expressed in U.S. Dollars)
                                     (Unaudited)

                                                                                         For the
                                                                                     period from
                                For the       For the       For the       For the    the date of
                             three month   three month    nine month    nine month  inception on
                            period ended  period ended  period ended  period ended  6 March 2000
                            30 September  30 September  30 September  30 September  30 September
                                    2005          2004          2005          2004          2005
                                       $             $             $             $             $
                            --------------------------------------------------------------------
<S>                              <C>             <C>           <C>           <C>           <c>
Expenses
--------
Operating                            25              9            70           210       14,279
Professional fees                 1,818          3,390         8,689         6,137       36,909
                            --------------------------------------------------------------------
Net loss for the period          (1,843)        (3,399)       (8,759)       (6,347)     (51,188)
                            ====================================================================

Basic and diluted
earnings per common share        (0.001)        (0.001)       (0.001)       (0.001)
                            ------------------------------------------------------

Weighted average number of
common shares used in per
share calculations           42,000,000     21,000,000    42,000,000    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 Company)
                             Statements of Cash Flows
                            (Expressed in U.S. Dollars)
                                    (Unaudited)
                                                                                         For the
                                                                                     period from
                                For the       For the       For the       For the    the date of
                             three month   three month    nine month    nine month  inception on
                            period ended  period ended  period ended  period ended  6 March 2000
                            30 September  30 September  30 September  30 September  30 September
                                    2005          2004          2005          2004          2005
                                       $             $             $             $             $
                            --------------------------------------------------------------------
<S>                              <C>             <C>           <C>           <C>           <c>
Cash Flows from
Operating Activities
--------------------
Net loss for the period         (1,843)       (3,399)      (8,759)        (6,347)      (51,188)

Changes in operating
assets and liabilities:
Increase (decrease) in
accounts payable                (2,506)           -           415              -           415
                            --------------------------------------------------------------------
                                (4,349)       (3,399)      (8,344)        (6,347)      (50,773)
                            --------------------------------------------------------------------
Cash flows from
investing activities                 -             -            -              -             -
                            --------------------------------------------------------------------
Cash flows from
financing activities
--------------------
Shareholder advance                  -             -            -              -         2,298
Convertible debentures          20,000             -       20,000              -        20,000
Proceeds from sale of stock          -             -            -              -        50,000
                            --------------------------------------------------------------------
                                     -             -            -              -        72,298
                            --------------------------------------------------------------------
Increase (decrease) in
and cash equivalents            15,651        (3,399)     (11,656)        (6,347)       21,525

Cash and cash equivalents,
beginning of period              5,874        13,372        9,869         16,320            -
                            --------------------------------------------------------------------
Cash and cash equivalents,
end of period                   21,525         9,973       21,525          9,973        21,525
                            ====================================================================

Supplemental Disclosures
with Respect to Cash
Flows (Note 8)

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

                                  6
<PAGE>

<TABLE><CAPTION>

                       Crafty Admiral Enterprises, Ltd.
                        (A Development Stage Company)
                           Statements of Operations
                         (Expressed in U.S. Dollars)
                                 (Unaudited)


                       Number of              Additional
                         Shares      Share      Paid-In   Accumulated  Stockholders'
                         Issued    Capital      Capital       Deficit        Equity
                                         $            $             $             $
                     --------------------------------------------------------------
<S>                        <C>        <C>         <C>           <C>          <C>
Balance at
6 March 2000
(Inception)                  -           -            -             -             -

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

Net loss for the year        -           -            -        (2,291)       (2,291)
                     --------------------------------------------------------------
Balance at
31 December 2000     2,000,000       2,000        1,000        (2,291)          709

Issuance of
commonstock          5,000,000       5,000       42,000             -        47,000

Net loss for the year        -           -            -       (10,571)      (10,571)
                     --------------------------------------------------------------
Balance at
31 December 2001     7,000,000       7,000       43,000       (12,862)       37,138

Net loss for the year        -           -            -       (12,097)      (12,097)
                     --------------------------------------------------------------
Balance at
31 December 2002     7,000,000       7,000       43,000       (24,959)       25,041
Net loss for the year        -           -            -       (11,019)      (11,019)
                     --------------------------------------------------------------
Balance at
31 December 2003     7,000,000       7,000       43,000       (35,978)       14,022

3 for 1 forward
split               14,000,000      14,000      (14,000)            -             -

Net loss for the year        -           -            -        (6,451)       (6,451)
                     --------------------------------------------------------------
Balance at
31 December 2004    21,000,000      21,000       29,000       (42,429)        7,571

2 for 1 forward
split               21,000,000      21,000      (21,000)            -             -

Net loss for the period      -           -            -        (8,759)       (8,759)
                     --------------------------------------------------------------
Balance at
30 September 2005   42,000,000      42,000        8,000       (51,188)       (1,188)
                    ===============================================================
</TABLE>

The accompanying notes are an integral part of these financial statements.

                                    7
<PAGE>


                   Crafty Enterprises, Ltd.
                 (A Development Stage Company)
                 Notes to Financial Statements
                   (Expressed in U.S. Dollars)
                          (Unaudited)
                       30 September 2005

1. Nature and Continuance of Operations
---------------------------------------
Crafty Admiral Enterprises, Ltd. (the "Company") is a development stage
enterprise, as defined in Financial Accounting Standards Board No. 7
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 organization period.

The Company's financial statements as at 30 September 2005 and for each
of the three month and nine month periods then ended have been prepared on
a going concern basis, which contemplates the realization of assets and
the settlement of liabilities and commitments in the normal course of
business. The Company has a loss of $8,759 for the nine month period ended
30 September 2005 (30 September 2004 - $6,347) and has working capital
of $18,812 at 30 September 2005 (31 December 2004 - $7,571).

Management cannot provide assurance that the Company will ultimately
achieve profitable operations or become cash flow positive, or raise
additional debt and/or equity capital.  However, based on its prior
demonstrated ability to raise capital, management believes that the
Company's capital resources should be adequate to continue operating and
maintaining its business strategy during the fiscal year ending 31 December
2005.  However, if the Company is unable to raise additional capital in the
near future, due to the Company's liquidity problems, management expects
that the Company will need to curtail operations, liquidate assets, seek
additional capital on less favourable terms and/or pursue other remedial
 measures.  These financial statements do not include any adjustments
related to the recoverability and classification of assets or the amounts
and classification of liabilities that might be necessary should the
Company be unable to continue as a going concern.

At 30 September 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.


                                8
<PAGE>

                    Crafty Enterprises, Ltd.
                 (A Development Stage Company)
                 Notes to Financial Statements
                   (Expressed in U.S. Dollars)
                          (Unaudited)
                       30 September 2005

2.Significant Accounting Policies
---------------------------------

The following is a summary of significant accounting policies used in
the preparation of these financial statements.

Basis of presentation
---------------------
These unaudited interim financial statements have been prepared in
accordance with United States of America accounting policies as set out
in the Company's audited financial statements for the year ended 31
December 2004, except as described in this note.

These financial statements have been prepared in accordance with United
States of America generally accepted accounting principles ("U.S.
GAAP") for interim financial information and as expressed in U.S. dollar.
Accordingly, they do not include all of the information and footnotes
required by U.S. GAAP for complete financial statements.  In the opinion
of management, adjustments (consisting of normal recurring accruals)
considered necessary for a fair presentation have been included. Operating
results for the nine month period ended 30 September 2005 are not
necessarily indicative of the results that may be expected for the year
ended 31 December 2005.  For further information, refer to the audited
financial statements of the Company for the year ended 31 December 2004.

Use of estimates
----------------
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the amounts of assets and liabilities and
disclosures of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and
expenditures during the reported period.  Actual results could differ
from these estimates.

Basic and diluted net loss per share
------------------------------------
The Company computes net income (loss) per share in accordance with SFAS
No.128, Earnings per Share.  SFAS No. 128 requires presentation of both
basic and diluted earnings per share (EPS) on the face of the income
statement.  Basic EPS is computed by dividing net income (loss) available
to common shareholders (numerator) by the weighted average number of
shares outstanding (denominator) during the period.  Diluted EPS gives
effect to all dilutive potential common shares outstanding during the
period using the treasury stock method and convertible preferred stock
using the if - converted method.  In computing diluted EPS, the average
stock price for the period is used in determining the number of shares
assumed to be purchased from the exercise of stock options or warrants.
Diluted EPS excludeds all dilutive potential shares if their effect is
anti-dilutive.

Comprehensive loss
------------------
SFAS No. 130, Reporting Comprehensive Income, establishes standards for
the reporting and display of comprehensive loss and its components in the
financial statements.  As at 30 September 2005 and 2004, the Company
has no items that represent a comprehensive loss and, therefore, has not
included a schedule of comprehensive loss in the financial statements.



                               9
<PAGE>

                    Crafty Enterprises, Ltd.
                 (A Development Stage Company)
                 Notes to Financial Statements
                   (Expressed in U.S. Dollars)
                          (Unaudited)
                       30 September 2005

Cash and cash equivalents
-------------------------
Cash and cash equivalents include highly liquid investments with
original maturities of three months or less.

Financial instruments
---------------------
The carrying value of cash, accounts payable, accrued liabilities and
due to related parties approximates their fair value because of the
short-term maturity of these instruments.  The Company's operations are
in the United States of America and virtually all of its assets and
liabilities are giving rise to significant exposure to market risks from
changes in foreign currency rates.  The financial risk is the risk to the
Company's operations that arise from fluctuations in foreign exchange rates
and the degree of volatility of these rates.  Currently, the Company does
not use derivative instruments to reduce its exposure to foreign currency
risk.

Revenue recognition
-------------------
The Company is recognized the revenue in the year in which the related
expenses are incurred.

Income taxes
------------
The Company accounts for income taxes pursuant to the provisions of the
SFAS No. 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.

Recent accounting pronouncement
-------------------------------
In December 2004, the Financial Accounting Standards Board ("FASB")
issued SFAS No. 123  (Revised 2004)  ("SFAS No.  123R"), Share-Based
Payment. SFAS No. 123R requires that the compensation cost relating to
share-based payment transactions be recognized in financial statements.
That cost will be measured based on the fair value of the equity of
liability instruments issued. SFAS No. 123R represents the culmination of
a two-year effort to respond to requests from investors and many others
that the FASB improve the accounting for share-based payment arrangements
with employees.  The scope of SFAS No.123R includes a wide range of share-
based compensation arrangements including share options, restricted share
plans, performance-based awards, share appreciation rights, and employee
share purchase plans. SFAS No. 123R replaces SFAS No. 123, Accounting for
Stock-Based Compensation, and supersedes APB Opinion No. 25, Accounting for
Stock Issued to Employees.  SFAS No.123, as originally issued in 1995,
established as preferable a fair-value-based method of accounting for share-
based payment transactions with employees. However, that statement permitted
entities the option of continuing to apply the guidance in APB Opinion No.
25, as long as the footnotes to the financial statements disclosed what
net income would have been had the preferable fair-value-based method
been used.  Although those disclosures helped to mitigate the problems
associated with accounting under APB Opinion No. 25, many investors and
other users of financial statements believed that the failure to
include employee compensation costs in the income statement impaired the
transparency, comparability, and credibility of financial statements.
Public entities that file as small business issuers will be required to
apply Statement 123R in the first interim or annual reporting period that
begins after 15 December 2005. The adoption of this standard is not expected
to have a material impact on the Company's results of operations or financial
position.

                                10
<PAGE>

                   Crafty Enterprises, Ltd.
                 (A Development Stage Company)
                 Notes to Financial Statements
                   (Expressed in U.S. Dollars)
                          (Unaudited)
                       30 September 2005


In December 2004, the FASB issued SFAS No. 153, Exchanges of Nonmonetary
Assets - An Amendment of APB Opinion No. 29. SFAS No. 153 is the result
of a broader effort by the FASB to improve financial reporting by
eliminating differences between U.S GAAP and generally accepted accounting
principles developed by the International Accounting Standards Board (IASB).
As part of this effort, the FASB and the IASB identified opportunities to
improve financial reporting by eliminating certain narrow differences between
their existing accounting standards.  SFAS No. 153 amends APB Opinion No. 29,
Accounting for Nonmonetary Transactions, that was issued in 1973. The
amendments made by SFAS No.153 are based on the principle that
exchanges of nonmonetary assets should be measured based on the fair value
of the assets exchanged.  Further, the amendments eliminate the narrow
exception for nonmonetary exchanges of similar productive assets and replace
it with a broader exception for exchanges of nonmonetary assets that do not
have "commercial substance."  Previously, APB Opinion No. 29 required that
the accounting for an exchange of a productive asset for a similar
productive asset or an equivalent interest in the same or similar productive
asset should be based on the recorded amount of the asset relinquished. The
provisions in SFAS No.153 are effective for nonmonetary asset exchanges
occurring in fiscal periods beginning after 15 June 2005.  Early application
is permitted and companies must apply the standard prospectively.  The
effect of adoption of this standard is not expected to have a material
impact on the Company's results of operations and financial position.

FASB has also issued SFAS No. 151 and SFAS No. 152 but they will not have
any relationship to the operations of the Company, therefore a
description and its impact on the Company's operations for each, have not
been disclosed.

In March 2005, the SEC staff issued Staff Accounting Bulletin No. 107
("SAB No.107") to give guidance on the implementation of SFAS No. 123R.
The Company will consider SAB No. 107 during the implementation of SFAS No.
123R.

Comparative figures
-------------------
Certain comparative figures have been adjusted to conform to the
current period's presentation.


3. Accounts Payable and Accrued Liabilities
------------------------------------------
Accounts payable and accrued liabilities are non-interest bearing,
unsecured and have settlement dates within one year.

4. Officer Advances
-------------------
The advance is not evidenced by a written document, is due upon demand,
is non-interest bearing, unsecured and have no fixed terms of repayment.

As at 30 September 2005, the amount in officer advances includes $2,298
(31 December 2004 - $2,298) payable to a director of the Company.

5. Convertible Debentures
-------------------------

The Company issued convertible debentures totalling $20,000 in
September 2005. The debentures have the right to convert any portion of the
unpaid principal sum and/or accrued interest to restricted shares of
common stock of the Company at any time within twenty four (24) months from
the issue date on the basis of $0.02 per share for each dollar of
principal and/or interest due and payable under the debenture.  The
debenture bears interest at the rate of nine and a half percent (9.5%) per
annum on any unpaid principal balance.


                                   11
<PAGE>

                    Crafty Enterprises, Ltd.
                 (A Development Stage Company)
                 Notes to Financial Statements
                   (Expressed in U.S. Dollars)
                          (Unaudited)
                       30 September 2005


6. Capital Stock
----------------

Authorized

The total authorized capital consist of

- 300,000,000 of common shares with par value of $0.001
- 50,000,000 of preferred share with par value of $0.001

On 30 September 2005, the Company increased its authorized capital from
50,000,000 to 300,000,000.

Issued and outstanding

The total issued and outstanding capital stock is 42,000,000 common
shares with a par value of $0.001 per share.

On 30 September 2005, the Company complete a one-two split of its
issued and outstanding common shares.

7. Income Taxes

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

                                  30 September 2005  31 December 2004
                                     (Unaudited)         (Audited)
                                          $                  $
                                  -----------------  ----------------

Deferred tax asset
attributable to:
Current operations                     (3,000)           (2,200)
Less: Change in valuation
      allowance                         3,000             2,200
                                      -------           -------
  Net refundable amount                     -                 -

The cumulative tax effect at the expected rate of 34% of significant
items comprising our net deferred tax amount is as follows:

                                  30 September 2005  31 December 2004
                                     (Unaudited)         (Audited)
                                         $                    $
                                  -----------------     ----------------

Net operating loss carryover            17,400              14,400
Less: Valuation allowance              (17,400)            (14,400)
                                       -------              ------
  Net deferred tax asset                    -                   -

At 30 September 2005, we had an unused net operating loss carryover
approximating $51,200 that is available to offset future taxable income.
It expires beginning in 2020.


8. Supplemental Disclosure with Respect to Cash Flows

                          For the nine month   For the nine month
		                period ended         period ended
                           30 September 2005    30 September 2004
                                           $                    $
                          ------------------   ------------------

Cash paid during the
period for interest                        -                    -

Cash paid during the
period for income taxes                    -                    -

                                12
<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, whichcan 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 September 30, 2005 compared to Three Months Ended
September 30, 2004
-----------------------------------------------------------------
We had no revenues for the three months ended September 30, 2005.

Operating expenses were $1,843 for the three months ended September
30,2005, as compared to $3,399 for the three months ended September
30, 2004. These expenses were mainly attributed to professional fees
incurred toprepare and file Registrant's quarterly and annual reports
with the U.S. Securities and Exchange Commission.

                                 13
<PAGE>

Net loss was $1,843 or $0.001 per share for the three months ended
September 30, 2005, as compared to a net loss of $3,399 or $0.001 per
share for the three months ended September 30, 2004.

Liquidity and Capital Resources
-------------------------------
At September 30, 2005, we had $21,525 in cash in the bank.

Net cash flow from operating activities for the three months ended
September 30, 2005 was ($4,349), as compared to net cash flow from
operating activities of ($3,399) for the three months ended September
30, 2004.

There were no cash flows from investing activites for the three months
ended September 30, 2005.

Cash flows from financing activities for the three and nine months ended
September 30, 2005 were $20,000, as a result of the Company's issuance
of convertible debentures in September. Holders of the debentures have
the right to convert any portion of the unpaid principal sum and/or
accrued interest to restricted shares of common stock of the Company at
any time within twenty-four (24) months from the issue date on the basis
of $0.02 per share for each dollar of principal and/or interest due and
payable under the debenture. The debenture bears interest at the rate
of 9.5% per annum on any unpaid principal balances.

Our stockholders' equity was ($1,188) at September 30, 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.

                              14
<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. 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.

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<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

November 13, 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

November 13, 2005             By:/s/ Lawrence Siccia,
                              President, CEO, CFO, Principal
                              Accounting Officer and Chairman
                              of the Board of Directors

























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