|   |                                                                                                   |
|--------|--------------------------------------------------------------------------------------------------------|
| x      | ANNUAL                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES                EXCHANGE |
|   | ACT                OF 1934 for the fiscal year ended July 31, 2005                                     |
|   |                                                                                                   |
| o      | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                SECURITIES      |
|   | EXCHANGE                ACT OF 1934                                                                    |
|   |                                                                                                   |

|                                                                               |
|------------------------------------------------------------------------------------|
| Commission                File Number 333-118808                                   |
|                                                                               |
| EUROPA                TRADE AGENCY LTD.                                       |
|  (Name                of small business issuer in its                charter) |

| NEVADA                                                       |   | 98-0434104                         |
|--------------------------------------------------------------|--------|------------------------------------|
| (State                or other jurisdiction of               |   | (I.R.S.                Employer    |
| incorporation                or organization)                |   | Identification                No.) |
|                                                         |   |                               |
| 3715                West 14th Avenue, Vancouver, B.C. Canada |   | V6R                2W8             |
| (Address                of principal executive offices)      |   | (Zip                Code)          |
|                                                         |   |                               |
| Issuer's                telephone number:                    |   | (604)                801-6110      |

| Securities                registered pursuant to Section 12(b) of the Act:              |   | NONE  |
|-----------------------------------------------------------------------------------------|--------|------------|
|                                                                                    |   |       |
| Securities                registered pursuant to Section 12 (g) of the Act:   |   | NONE  |
|                                                                                    |   |       |

----

|   |   |                                                                                                                                                                                                                             |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 1.     | We                were sole distributor of Organic Milling's Back to Nature Golf Nutrition                System in Western Canada (the provinces of British Columbia, Alberta,                and                Saskatchewan). |

|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 2.     | We                were sole distributor of the Kalamazoo Grill in Canada. The Kalamazoo                Grill Company manufactures gourmet outdoor cooking grills. It is                based in                Kalamazoo, Michigan. It manufactures a series of licensed products,                including The Harley-Davidson Grill, The Corvette Grill and The College                Grill.                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   | 3.     | We                represented McKirdy's RepalFly on a non-exclusive basis, without                a                designated territory. McKirdy's is an established Canadian brand                (approximately 90 years) offering DEET and Citronella-based insect                repellent compounds. McKirdy's is made by JGM McKirdy Ltd. of Kingston,                Ontario.                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   | 4.     | We                marketed ScentMaster citronella-based insect repellent products in                the                United States and Canada under a written exclusivity agreement with                the                manufacturer which granted us the exclusive right to market ScentMaster                to                Wal-Mart Canada and Wal-Mart USA. ScentMaster is made by Bug Master                LLC of                Lancaster, New York. |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                |

----

----

----

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**FINANCIAL      STATEMENTS**

**JULY      31, 2005 AND 2004**

**(Stated      in U.S. Dollars)**

----

**REPORT      OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

|                                          |                                                    |
|-----------------------------------------------|---------------------------------------------------------|
| Vancouver,                Canada\   | “Morgan                & Company”  |
| November                2, 2005          | Chartered                Accountants               |
|                                          |                                                    |

****

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**BALANCE      SHEETS**

**(Stated      in U.S. Dollars)**

|                                                                       |   |                             |         |
|----------------------------------------------------------------------------|--------|----------------------------------|--------------|
|                                                                       |   |  **JULY                31** |         |
|                                                                       |   | **2005**                    |         | 2004  |   |
| **ASSETS**                                                                 |   |                             |         |   |   |
|                                                                       |   |                             |         |   |   |
| **Current**                                                                |   |                             |         |   |   |
| Cash                                                                       |   | **$**                            | **3,534**    |   | $ | 27,424 |   |
| Goods                and Services Tax receivable                           |   |                             | **662**      |   |   | 556 |   |
| Inventory                                                                  |   |                             | **—**  |   |   | 4,666 |   |
|                                                                       |   |                             | **4,196**    |   |   | 32,646 |   |
|                                                                       |   |                             |              |   |   |  |   |
| **Property                And Equipment**,                net (Note 3)     |   |                             | **—**  |   |   | 169 |   |
|                                                                       |   | **$**                            | **4,196**    |   | $ | 32,815 |   |
| **LIABILITIES**                                                            |   |                             |              |   |   |  |   |
|                                                                       |   |                             |              |   |   |  |   |
| **Current**                                                                |   |                             |              |   |   |  |   |
| Accounts                payable and accrued liabilities                    |   | **$**                            | **5,477**    |   | $ | 5,697 |   |
| Advances                payable to related parties (Note 4)                |   |                             | **11,891**   |   |   | 5,285 |   |
|                                                                       |   |                             | **17,368**   |   |   | 10,982 |   |
|                                                                       |   |                             |              |   |   |  |   |
| **STOCKHOLDERS’                (DEFICIENCY) EQUITY**                 |   |                             |              |   |   |  |   |
|                                                                       |   |                             |              |   |   |  |   |
| **Common                Stock**                                            |   |                             |              |   |   |  |   |
| Authorized:                                                                |   |                             |              |   |   |  |   |
| 50,000,000                common shares with par value of $0.001 per share |   |                             |              |   |   |  |   |
|                                                                       |   |                             |              |   |   |  |   |
| Issued                and outstanding:                                     |   |                             |              |   |   |  |   |
| 3,010,000                common shares as at July 31, 2005 and 2004        |   |                             | **3,010**    |   |   | 3,010 |   |
|                                                                       |   |                             |              |   |   |  |   |
| Additional                paid-in capital                                  |   |                             | **93,890**   |   |   | 57,890 |   |
|                                                                       |   |                             |              |   |   |  |   |
| **Accumulated                Other Comprehensive Loss**                    |   |                             | **(938**     | **)** |   | (45 | ) |
| **Accumulated                Deficit During The Development Stage**        |   |                             | **(109,134** | **)** |   | (39,022 | ) |
|                                                                       |   |                             | **(13,172**  | **)** |   | 21,833 |   |
|                                                                       |   |                             |              |   |   |  |   |
|                                                                       |   | **$**                            | **4,196**    |   | $ | 32,815 |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENTS      OF OPERATIONS**

**(Stated      in U.S. Dollars)**

|                                                                    |   |                                                           |          |                                                                                                                     |   |
|-------------------------------------------------------------------------|--------|----------------------------------------------------------------|---------------|--------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                    |   | **YEARS                ENDED****JULY                31**  |          | CUMULATIVEPERIOD                FROMINCORPORATIONJUNE                62003                TOJULY                31  |   |
|                                                                    |   | **2005**                                                  |          | 2004                                                                                                                |   | 2005  |   |
| **Sales                Revenue**                                        |   | **$**                                                          | **3,277**     |                                                                                                                     | $      | 3,385 |   | $ | 6,662 |   |
|                                                                    |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Cost                of Sales**                                        |   |                                                           | **3,512**     |                                                                                                                     |   | 2,926 |   |   | 6,438 |   |
|                                                                    |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Gross                Margin**                                         |   |                                                           | **(235**      | **)**                                                                                                                    |   | 459 |   |   | 224 |   |
|                                                                    |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Expenses**                                                            |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| Advertising                and promotion                                |   |                                                           | **3,610**     |                                                                                                                     |   | 2,698 |   |   | 6,308 |   |
| Bad                debts                                                |   |                                                           | **595**       |                                                                                                                     |   | — |   |   | 595 |   |
| Bank                charges and interest                                |   |                                                           | **790**       |                                                                                                                     |   | 413 |   |   | 1,203 |   |
| Depreciation                                                            |   |                                                           | **169**       |                                                                                                                     |   | 73 |   |   | 242 |   |
| Licenses                and dues                                        |   |                                                           | **—**   |                                                                                                                     |   | 310 |   |   | 310 |   |
| Management                services (Note 4)                             |   |                                                           | **30,000**    |                                                                                                                     |   | 15,000 |   |   | 45,000 |   |
| Office                and sundry                                        |   |                                                           | **6,345**     |                                                                                                                     |   | 970 |   |   | 7,315 |   |
| Professional                fees                                        |   |                                                           | **18,900**    |                                                                                                                     |   | 3,207 |   |   | 22,107 |   |
| Rent                (Note 4)                                            |   |                                                           | **6,000**     |                                                                                                                     |   | 3,000 |   |   | 9,000 |   |
| Telephone                                                               |   |                                                           | **864**       |                                                                                                                     |   | 2,640 |   |   | 3,504 |   |
| Travel                                                                  |   |                                                           | **2,604**     |                                                                                                                     |   | 11,170 |   |   | 13,774 |   |
|                                                                    |   |                                                           | **69,877**    |                                                                                                                     |   | 39,481 |   |   | 109,358 |   |
|                                                                    |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Net                Loss For The Period**                              |   | **$**                                                          | **(70,112**   | **)**                                                                                                                    | $      | (39,022 | ) | $ | (109,134 | ) |
|                                                                    |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Net                Loss Per Share**,                Basic and diluted |   | **$**                                                          | **(0.02**     | **)**                                                                                                                    | $      | (0.04 | ) |   |  |   |
|                                                                    |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Weighted                Average Number Of Common Shares Outstanding** |   |                                                           | **3,010,000** |                                                                                                                     |   | 871,261 |   |   |  |   |
|                                                                    |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Other                Comprehensive Loss**                             |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Net                loss for the period**                              |   |                                                           |               |                                                                                                                     |   |  |   |   |  |   |
| **Foreign                currency translation adjustment**              |   |                                                           | **(70,112**   | **)**                                                                                                                    |   | (39,022 | ) |   |  |   |
| **Total                Comprehensive Loss**                             |   |                                                           | **(893**      | **)**                                                                                                                    |   | (45 | ) |   |  |   |
|                                                                    |   |                                                           | **(71,005**   | **)**                                                                                                                    |   | (39,067 | ) |   |  |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENTS      OF CASH FLOWS**

**(Stated      in U.S. Dollars)**

|                                                                                                     |   |                                                           |        |                                                                                                                     |   |       |   |
|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------|-------------|--------------------------------------------------------------------------------------------------------------------------|--------|------------|--------|
|                                                                                                     |   | **YEARS                ENDED****JULY                31**  |        | CUMULATIVEPERIOD                FROMINCORPORATIONJUNE                62003                TOJULY                31  |   |
|                                                                                                     |   | **2005**                                                  |        | 2004                                                                                                                |   | 2005  |   |
| **Operating                Activities**                                                                  |   |                                                           |        |                                                                                                                     |   |       |   |
| Net                loss for the period                                                                   |   | **$**                                                          | **(70,112** | **)**                                                                                                                    | $      | (39,022    | )      | $ | (109,134 | ) |
|                                                                                                     |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| **Adjustments                To Reconcile Net Loss To Cash Used By Operating                Activities** |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| Depreciation                                                                                             |   |                                                           | **169**     |                                                                                                                     |   | 73         |   |   | 242 |   |
| Donated                services                                                                          |   |                                                           | **36,000**  |                                                                                                                     |   | 18,000     |   |   | 54,000 |   |
| Goods                and Services Tax receivable                                                         |   |                                                           | **(106**    | **)**                                                                                                                    |   | (556       | )      |   | (662 | ) |
| Inventory                                                                                                |   |                                                           | **4,666**   |                                                                                                                     |   | (4,666     | )      |   | — |   |
| Accounts                payable and accrued liabilities                                                  |   |                                                           | **(220**    | **)**                                                                                                                    |   | 5,697      |   |   | 5,477 |   |
|                                                                                                     |   |                                                           | **(29,603** | **)**                                                                                                                    |   | (20,474    | )      |   | (50,077 | ) |
| **Investing                Activity**                                                                    |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| Purchase                of property and equipment                                                        |   |                                                           | **—** |                                                                                                                     |   | (242       | )      |   | (242 | ) |
|                                                                                                     |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| **Financing                Activities**                                                                  |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| Advances                payable to related parties                                                       |   |                                                           | **6,606**   |                                                                                                                     |   | 20,285     |   |   | 26,891 |   |
| Issue                of common shares                                                                    |   |                                                           | **—** |                                                                                                                     |   | 27,900     |   |   | 27,900 |   |
|                                                                                                     |   |                                                           | **6,606**   |                                                                                                                     |   | 48,185     |   |   | 54,791 |   |
|                                                                                                     |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| **Foreign                Exchange Effect On Cash**                                                       |   |                                                           | **(893**    | **)**                                                                                                                    |   | (45        | )      |   | (938 | ) |
|                                                                                                     |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| **(Decrease)                Increase In Cash During The Period**                                         |   |                                                           | **(23,890** | **)**                                                                                                                    |   | 27,424     |   |   | 3,534 |   |
|                                                                                                     |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| **Cash,                Beginning Of Period**                                                             |   |                                                           | **27,424**  |                                                                                                                     |   | —    |   |   | — |   |
|                                                                                                     |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| **Cash,                End Of Period**                                                                   |   | **$**                                                          | **3,534**   |                                                                                                                     | $      | 27,424     |   | $ | 3,534 |   |
|                                                                                                     |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| **Supplemental                Cash Flow Information**                                                    |   |                                                           |             |                                                                                                                     |   |            |   |   |  |   |
| 2,000,000                common shares issued for debt settlement                                        |   | $                                                              | —     |                                                                                                                     | $      | 15,000     |   | $ | 15,000 |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENT      OF STOCKHOLDERS’ (DEFICIENCY) EQUITY**

**PERIOD      FROM INCORPORATION, JUNE 6, 2003, TO JULY 31, 2005**

**(Stated      in U.S. Dollars)**

|                                                              |   |                             |      |             |   |                             |   |                                                                                        |    |                                                    |   |                                             |   |
|-------------------------------------------------------------------|--------|----------------------------------|-----------|------------------|--------|----------------------------------|--------|---------------------------------------------------------------------------------------------|---------|---------------------------------------------------------|--------|--------------------------------------------------|--------|
|                                                              |   | **NUMBER****OF****SHARES**  |      | **AMOUNT**  |   | **ADDITIONALPAID-IN****CAPITAL** |   | **ACCUMULATED****DEFICIT****DURING                THE****DEVELOPMENT****STAGE**   |    | **ACCUMULATED****OTHER****COMPREHENSIVE****LOSS**  |   | **TOTAL****STOCKHOLDERS’****EQUITY**  |   |
|                                                              |   |                             |      |             |   |                             |   |                                                                                        |    |                                                    |   |                                             |   |
| Balance,                July 31, 2003                             |   |                             | —   |             | $      | —                          |   | $                                                                                           | — |                                                    | $      | —                                          |   | $ | — |   | $ | — |   |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Shares                issued for debt settlement - March 31, 2004 |   |                             | 2,000,000 |             |   | 2,000                            |   |                                                                                        | 13,000  |                                                    |   | —                                          |   |   | — |   |   | 15,000 |   |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Shares                issued for cash - May 18, 2004              |   |                             | 900,000   |             |   | 900                              |   |                                                                                        | 17,100  |                                                    |   | —                                          |   |   | — |   |   | 18,000 |   |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Shares                issued for cash - June 30, 2004             |   |                             | 110,000   |             |   | 110                              |   |                                                                                        | 9,790   |                                                    |   | —                                          |   |   | — |   |   | 9,900 |   |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Foreign                currency translation                       |   |                             | —   |             |   | —                          |   |                                                                                        | — |                                                    |   | —                                          |   |   | (45 | ) |   | (45 | ) |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Non-cash                services from a director                  |   |                             | —   |             |   | —                          |   |                                                                                        | 18,000  |                                                    |   | —                                          |   |   | — |   |   | 18,000 |   |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Net                loss for the period                            |   |                             | —   |             |   | —                          |   |                                                                                        | — |                                                    |   | (39,022                                          | )      |   | — |   |   | (39,022 | ) |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Balance,                July 31, 2004                             |   |                             | 3,010,000 |             |   | 3,010                            |   |                                                                                        | 57,890  |                                                    |   | (39,022                                          | )      |   | (45 | ) |   | 21,833 |   |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Foreign                currency translation                       |   |                             | —   |             |   | —                          |   |                                                                                        | — |                                                    |   | —                                          |   |   | (893 | ) |   | (893 | ) |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Non-cash                services from a director                  |   |                             | —   |             |   | —                          |   |                                                                                        | 36,000  |                                                    |   | —                                          |   |   | — |   |   | 36,000 |   |
| Net                loss for the period                            |   |                             | —   |             |   | —                          |   |                                                                                        | — |                                                    |   | (70,112                                          | )      |   | — |   |   | (70,112 | ) |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |
| Balance,                July 31, 2005                             |   |                             | 3,010,000 |             | $      | 3,010                            |   | $                                                                                           | 93,890  |                                                    | $      | (109,134                                         | )      |   | (983 | ) | $ | (13,172 | ) |
|                                                              |   |                             |           |             |   |                                  |   |                                                                                        |         |                                                    |   |                                                  |   |   |  |   |   |  |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**JULY      31, 2005 AND 2004**

**(Stated      in U.S. Dollars)**

**1.**
**NATURE      OF OPERATIONS**

| a) | Organization |
|----|--------------|

|   | The                          Company was incorporated federally under the laws of Canada,                          on June 6,                          2003, and extraprovincially registered in British Columbia                          on September                          26, 2003. The Company was continued under the laws of the                          state of Nevada                          on May 26, 2004. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | Development                Stage Activities |
|----|---------------------------------------------|

|   | The                    Company specialized in the distribution and sale of products                    developed and                    manufactured by others, seeking distribution agreements with                    manufacturers                    of products it believed there was a ready market for in areas                    readily                    accessible to the company. However, because the Company’s efforts to                    market its ScentMaster product to Wal-Mart Canada Corp. have                    been                    unsuccessful and its other products have not been sufficiently                    successful,                    as of September 19, 2005 the Company has been pursuing alternatives                    to its                    business plan.The                    Company is in the development stage. Therefore, recovery of its                    assets is                    dependent upon future events, the outcome of which is indeterminable.                    In                    addition, successful completion of the Company’s development program and                    its transition, ultimately to the attainment of profitable operations                    is                    dependent upon obtaining adequate financing to fulfill its development                    activities and achieve a level of sales adequate to support its                    cost                    structure. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c) | Going                Concern |
|----|------------------------------|

|   | Since                      inception, the Company has suffered recurring losses and net                      cash outflows                      from operations. The Company expects to continue to incur substantial                      losses to complete the development of its business. Since its                      inception,                      the Company has funded operations through private placements                      and advances                      from related parties. Management believes that sufficient funding                      will be                      available to meet its business objectives, including anticipated                      cash                      needs for working capital, and is currently evaluating several                      financing                      options. Management intends to seek additional capital through                      private                      placements and public offering of its common stock. However,                      there can be                      no assurance that the Company will be able to obtain sufficient                      funds to                      continue the development of and successful sale of its products.                      As a                      result of the foregoing, there exists substantial doubt about                      the                      Company’s ability to continue as a going concern. These financial                      statements do not include any adjustments that might result                      from the                      outcome of this uncertainty. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**JULY      31, 2005 AND 2004**

**(Stated      in U.S. Dollars)**

**2.      **SIGNIFICANT      ACCOUNTING POLICIES****

|   | The                          financial statements of the Company have been prepared                          in accordance with                          generally accepted accounting principles in the United                          States. Because a                          precise determination of many assets and liabilities is                          dependent upon                          future events, the preparation of financial statements                          for a period                          necessarily involves the use of estimates which have been                          made using                          careful judgment.The                          financial statements have, in management’s opinion, been properly prepared                          within reasonable limits of materiality and within the                          framework of the                          significant accounting policies summarized                          below: |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| a) | 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 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                          for the reporting period. Actual results could differ from                          these                          estimates. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | Development                Stage Company |
|----|------------------------------------------|

|   | The                        Company is a development stage company as defined in the                        Statements of                        Financial Accounting Standards No. 7. The Company is devoting                        substantially all of its present efforts to establish a new                        business and                        none of its planned principal operations have commenced.                        All losses                        accumulated since inception have been considered as part                        of the Company’s                        development stage activities. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c) | Inventory |
|----|-----------|

|   | Inventory                          of packaged goods available for sale is valued at the lower                          of cost and                          net realizable value.Cost                          of inventory is determined using the actual purchase price                          of the goods in                          inventory plus applicable overhead                          costs. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d) | Property                and Equipment |
|----|---------------------------------------|

|   | Property                          and equipment comprise computer equipment which is recorded                          at cost, and                          is being depreciated on a 30% straight line                          basis. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**JULY      31, 2005 AND 2004**

**(Stated      in U.S. Dollars)**

**2.        **SIGNIFICANT        ACCOUNTING POLICIES**        (Continued)**

| e) | Foreign                Currency Translation |
|----|---------------------------------------------|

|   | The                        Company’s operations are located in Canada, and its functional currency                        is                        the Canadian dollar. The financial statements have been translated                        using                        the current method whereby the assets and liabilities are                        translated at                        the year end exchange rate, capital accounts at the historical                        exchange                        rate, and revenues and expenses at the average exchange rate                        for the                        period. Adjustments arising from the translation of the Company’s                        financial statements are included as a separate component                        of shareholders’                        equity. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| f) | Revenue                Recognition |
|----|------------------------------------|

|   | Revenue                        from sales is recognized once goods have been delivered to                        the customers.                        Cash collections in advance of delivery will be recorded                        as deferred                        revenue and recognized as revenue at the time of delivery.                        Costs related                        to shipping and handling are included in cost of                        sales. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| g) | Stock                Based Compensation |
|----|-----------------------------------------|

|   | The                          Company measures compensation cost for stock based compensation                          using the                          intrinsic value method of accounting as prescribed by A.P.B.                          Opinion No.                          25 - “Accounting for Stock Issued to Employees”. The Company has adopted                          those provisions of Statement of Financial Accounting Standards                          No. 123 -                          “Accounting for Stock Based Compensation”, which require disclosure of the                          pro-forma effect on net earnings and earnings per share                          as if compensation                          cost had been recognized based upon the estimated fair                          value at the date                          of grant for options awarded. The Company has not granted                          any stock                          options since                          incorporation. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| h) | Basic                and Diluted Loss Per Share |
|----|-------------------------------------------------|

|   | In                          accordance with SFAS No. 128 - “Earnings Per Share”, the basic loss per                          common share is computed by dividing net loss available                          to common                          stockholders by the weighted average number of common shares                          outstanding.                          Diluted loss per common share is computed similar to basic                          loss per common                          share except that the denominator is increased to include                          the number of                          additional common shares that would have been outstanding                          if any                          potentially dilutive securities had been issued. At July                          31, 2005, the                          Company has no dilutive stock                          equivalents. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**JULY      31, 2005 AND 2004**

**(Stated      in U.S. Dollars)**

**2.        SIGNIFICANT ACCOUNTING POLICIES**

| i) | Income                Taxes |
|----|-----------------------------|

|   | The                          Company has adopted Statement of Financial Accounting Standards                          No. 109 -                          “Accounting for Income Taxes” (SFAS 109). This standard requires the use                          of an asset and liability approach for financial accounting                          and reporting                          on income taxes. If it is more likely than not that some                          portion or all of                          a deferred tax asset will not be realized, a valuation                          allowance is                          recognized. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| j) | Financial                Instruments |
|----|--------------------------------------|

|   | The                          Company’s financial instruments consist of cash, accounts receivable,                          accounts payable and accrued liabilities, and advances                          payable.Unless                          otherwise noted, it is management’s opinion that this Company is not                          exposed to significant interest or credit risks arising                          from these                          financial instruments. The fair value of these financial                          instruments                          approximate their carrying values, unless otherwise                          noted. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**3.**
**PROPERTY      AND EQUIPMENT**

|                              |   | **COST**  |   | **2005****ACCUMULATED****DEPRECIATION**  |   | **NET                BOOK****VALUE** |   | **2004****NET                BOOK****VALUE**  |    |
|-----------------------------------|--------|----------------|--------|-----------------------------------------------|--------|--------------------------------------|--------|----------------------------------------------------|---------|
|                              |   |           |   |                                          |   |                                 |   |                                               |    |
| Computer                equipment |   | $              | 242    |                                          | $      | 242                                  |   | $                                                  | — |   | $ | 169 |   |

**4.      **RELATED      PARTY TRANSACTIONS****

| a) | Advances                  payable are due to directors of the Company for expenses paid on                  behalf of                  the Company and for travel expenses incurred. The amounts bear                  no                  interest, are unsecured and have no stated terms of                  repayment |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | The                    Company has been provided with non-cash services from a director.                    Accordingly, management services of $30,000 (2004 - $15,000)                    and rent of                    $6,000 (2004 - $3,000) have been recorded, and additional paid-in                    capital                    has been increased by the corresponding                    amount. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                          value of the management services has been calculated by                          establishing the                          fair value of the hourly rate, times the estimated total                          hours spent by                          the director. No monetary amount will be paid or exchanged                          for either of                          these services. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**JULY      31, 2005 AND 2004**

**(Stated      in U.S. Dollars)**

**5.      **INCOME      TAX****

|                                         |   | **2005**  |        | 2004  |   |
|----------------------------------------------|--------|----------------|-------------|------------|--------|
|                                         |   |           |        |       |   |
| Loss                for the period           |   | **$**          | **(70,112** | **)**      | $      | (39,022 | ) |
| Statutory                tax rate            |   |           | **35**      | **%**      |   | 35 | % |
|                                         |   |           |             |       |   |  |   |
| Expected                income tax provision |   | **$**          | **(24,500** | **)**      | $      | (13,700 | ) |
| Non-deductible                items          |   |           | **12,600**  |       |   | 6,300 |   |
| Unrecognized                tax losses       |   |           | **11,900**  |       |   | 7,400 |   |
|                                         |   |           |        |       |   |   |   |
|                                         |   | **$**          | **—** |       | $      | — |   |
|                                         |   |           |             |       |   |  |   |

|                               |   |           |        |       |   |
|------------------------------------|--------|----------------|-------------|------------|--------|
|                               |   | **2005**  |        | 2004  |   |
|                               |   |           |        |       |   |
| Operating                loss      |   | $              | **19,300**  |       | $      | 7,400 |   |
| Valuation                allowance |   |           | **(19,300** | **)**      |   | (7,400 | ) |
|                               |   |           |             |       |   |  |   |
|                               |   | $              | **—** |       | $      | — |   |
|                               |   |           |             |       |   |  |   |

----

----

|                             |   |      |   |   |
|----------------------------------|--------|-----------|--------|--------|
| Name                of Director  |   | Age  |   |   |
| Thomas                David Lamb |   | 32   |   |   |
|                             |   |      |   |   |

|                             |   |      |   |                                              |
|----------------------------------|--------|-----------|--------|---------------------------------------------------|
| Name                of Officer   |   | Age  |   | Office                                            |
| Thomas                David Lamb |   | 32   |   | President,                Secretary and Treasurer |
|                             |   |      |   |                                              |

----

| Title                of class |   | Name                and address of beneficial owner |                                                        | Number                of Shares of Common Stock |   | Percentage                of Common Stock |   |
|-------------------------------|--------|-----------------------------------------------------|-------------------------------------------------------------|-------------------------------------------------|--------|-------------------------------------------|--------|
| Common                Stock   |   |                                                | Thomas                Lamb                                  |                                            |   | 1,000,000                                 |   |   | 33% |   |
|                          |   |                                                |                                                        |                                            |   |                                      |   |   |   |   |
| Common                Stock   |   |                                                | Craig                Lamb                                   |                                            |   | 1,000,000                                 |   |   | 33% |   |
|                          |   |                                                |                                                        |                                            |   |                                      |   |   |   |   |
| Common                Stock   |   |                                                | Directors                and Officers as a group (1) Person |                                            |   | 1,000,000                                 |   |   | 33% |   |

----

| 3.1 | Articles                of Incorporation (1) |
|-----|----------------------------------------------|

| 3.2 | By-Laws (1) |
|-----|------------------|

| 4.1 | Share                Certificate (1) |
|-----|--------------------------------------|

| 10.1 | Lamb                loan agreement(1) |
|------|---------------------------------------|

| 31 | Certification                of CEO and CFO pursuant to Securities Exchange Act rules 13a-15 and                15d-15(c) as adopted pursuant to section 302 of the Sarbanes-Oxley                act of                2002. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32 | Certification                of CEO and CFO pursuant to 18 U.S.C. section 1350, as adopted pursuant                to                section 906 of the Sarbanes-Oxley act of                2002. |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| EUROPA                TRADE AGENCY LTD. |                                                                                                              |
|-----------------------------------------|-------------------------------------------------------------------------------------------------------------------|
|                                    |                                                                                                              |   |
| By:                                     | /s/                Thomas Lamb                                                                                    |   |
|                                    | Thomas                Lamb, President, Secretary, Treasurer, and sole DirectorDate:                March 12, 2006 |   |

|   |                                                                                                                        |   |
|--------|-----------------------------------------------------------------------------------------------------------------------------|--------|
| By:    | /s/                Thomas Lamb                                                                                              |   |
|   | Thomas                Lamb, President,Secretary                and Treasurer and Sole DirectorMarch                12, 2006 |   |

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