|   |                                                                                                                                                                     |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| x      | ANNUAL                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT                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 incorporation                or organization) |   | (I.R.S.                  Employer 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**  |   | **ADDITIONAL                PAID-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 |
|--------|----|---------------------------------------------|

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

----

**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** |
|--------------------|----------------------------------------------------|

|   | a) | Use                of Estimates |
|--------|----|---------------------------------|

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

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

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

----

**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 |
|--------|----|---------------------------------------------|

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

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

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

----

**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) |
|--------|-------------------------------------------------------------------------------|

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

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

| **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. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**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 15, 2006 |   |

|   |                                                                                                                        |   |
|--------|-----------------------------------------------------------------------------------------------------------------------------|--------|
| By:    | /s/                Thomas Lamb                                                                                              |   |
|   | Thomas                Lamb, President,Secretary                and Treasurer and Sole DirectorMarch                15, 2006 |   |

----