----

| For                Quarter Ended October 31, 2005 |   | Commission                FileNumber                333-118808 |
|---------------------------------------------------|--------|----------------------------------------------------------------|

| Nevada                                         |   | 98-0434104                         |
|------------------------------------------------|--------|------------------------------------|
| (State                or other jurisdiction of |   | (IRS                Employer       |
| incorporation                or organization)  |   | Identification                No.) |

| 3715                West 14th Avenue, Vancouver, B.C. Canada |   | V6R                2W8    |
|--------------------------------------------------------------|--------|---------------------------|
| (Address                of Principal Executive Offices)      |   | (Zip                Code) |

----

|                   |                                               | Page   |
|------------------------|----------------------------------------------------|--------|
| PART                I  | FINANCIAL                INFORMATION               |   |
|                   |                                               |   |
| Item                1  | Financial                Statements                | 3      |
|                   |                                               |   |
| Item                2. | Managements                Discussion and Analysis | 12     |
|                   |                                               |   |
| Item                3. | Controls                and Procedures             | 13     |
|                   |                                               |   |
|                   |                                               |   |
| Part                II | OTHER                INFORMATION                   |   |
|                   |                                               |   |
| Item                6. | Exhibits                                           | 13     |
|                   |                                               |   |
| Signatures             |                                               | 14     |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**FIRST      QUARTER FINANCIAL STATEMENTS**

**OCTOBER      31, 2005**

**(Unuadited)**

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

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**BALANCE      SHEETS**

**(Unuadited)**

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

|                                                                            |   | **OCTOBER                31** |         | JULY                31 |   |
|---------------------------------------------------------------------------------|--------|-------------------------------|--------------|------------------------|--------|
|                                                                            |   | **2005**                      |         | 2005                   |   |
| **ASSETS**                                                                      |   |                          |         |                   |   |
|                                                                            |   |                          |         |                   |   |
| **Current**                                                                     |   |                          |         |                   |   |
| Cash                                                                            |   | **$**                         | **1,721**    |                   | $      | 3,534 |   |
| Goods                and Services Tax receivable                                |   |                          | **1,290**    |                   |   | 662 |   |
|                                                                            |   |                          | **3,011**    |                   |   | 4,196 |   |
|                                                                            |   |                          |              |                   |   |  |   |
| **Property                And Equipment**,                net (Note 2)          |   |                          | —      |                   |   | — |   |
|                                                                            |   |                          |              |                   |   |  |   |
|                                                                            |   | **$**                         | **3,011**    |                   | $      | 4,196 |   |
|                                                                            |   |                          |              |                   |   |  |   |
| **LIABILITIES**                                                                 |   |                          |              |                   |   |  |   |
|                                                                            |   |                          |              |                   |   |  |   |
| **Current**                                                                     |   |                          |              |                   |   |  |   |
| Accounts                payable and accrued liabilities                         |   | **$**                         | **10,443**   |                   | $      | 5,477 |   |
| Advances                payable to related parties (Note 3)                     |   |                          | **12,528**   |                   |   | 11,891 |   |
|                                                                            |   |                          | **22,971**   |                   |   | 17,368 |   |
|                                                                            |   |                          |              |                   |   |  |   |
| **Commitments                and Contingencies (**Note                1)        |   |                          |              |                   |   |  |   |
|                                                                            |   |                          |              |                   |   |  |   |
| **STOCKHOLDERS’                DEFICIENCY**                               |   |                          |              |                   |   |  |   |
|                                                                            |   |                          |              |                   |   |  |   |
| **Common                Stock**                                                 |   |                          |              |                   |   |  |   |
| Authorized:                                                                     |   |                          |              |                   |   |  |   |
| 50,000,000                common shares with par value of $0.001 per share      |   |                          |              |                   |   |  |   |
|                                                                            |   |                          |              |                   |   |  |   |
| Issued                and outstanding:                                          |   |                          |              |                   |   |  |   |
| 3,010,000                common shares as at October 31, 2005 and July 31, 2005 |   |                          | **3,010**    |                   |   | 3,010 |   |
|                                                                            |   |                          |              |                   |   |  |   |
| Additional                paid-in capital                                       |   |                          | **98,390**   |                   |   | 93,890 |   |
|                                                                            |   |                          |              |                   |   |  |   |
| **Accumulated                Other Comprehensive Loss**                         |   |                          | **(1,599**   | **)**                  |   | (938 | ) |
| **Accumulated                Deficit During The Development Stage**             |   |                          | **(119,761** | **)**                  |   | (109,134 | ) |
|                                                                            |   |                          | **(19,960**  | **)**                  |   | (13,172 | ) |
|                                                                            |   |                          |              |                   |   |  |   |
|                                                                            |   | **$**                         | **3,011**    |                   | $      | 4,196 |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENTS      OF OPERATIONS**

**(Unuadited)**

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

|                                                                                                  |   |                      **THREE                      MONTHS ENDED****OCTOBER                      31** |          | CUMULATIVEPERIOD                      FROMINCORPORATIONJUNE                      62003                      TOOCTOBER                      31 |   |
|-------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                  |   |  **2005**                                                                                           |          |  2004                                                                                                                                    |   |  2005 |   |
| **Sales                      Revenue**                                                                |   | **$**                                                                                                    | —       |                                                                                                                                          | $      | 1,327 |   | $ | 6,662 |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Cost                      of Sales**                                                                |   |                                                                                                     | **—**   |                                                                                                                                          |   | 1,689 |   |   | 6,438 |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Gross                      Margin (Loss)**                                                          |   |                                                                                                     | **—**   |                                                                                                                                          |   | (362 | ) |   | 224 |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Expenses**                                                                                          |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| Advertising                      and promotion                                                        |   |                                                                                                     | **—**   |                                                                                                                                          |   | 660 |   |   | 6,308 |   |
| Bad                      debts                                                                        |   |                                                                                                     | **—**   |                                                                                                                                          |   | — |   |   | 595 |   |
| Bank                      charges and interest                                                        |   |                                                                                                     | **6**         |                                                                                                                                          |   | 253 |   |   | 1,209 |   |
| Depreciation                                                                                          |   |                                                                                                     | **—**   |                                                                                                                                          |   | 12 |   |   | 242 |   |
| Licenses                      and dues                                                                |   |                                                                                                     | **—**   |                                                                                                                                          |   | — |   |   | 310 |   |
| Management                      services (Note 3)                                                     |   |                                                                                                     | **3,750**     |                                                                                                                                          |   | 7,500 |   |   | 48,750 |   |
| Office                      and sundry                                                                |   |                                                                                                     | **614**       |                                                                                                                                          |   | 3,515 |   |   | 7,929 |   |
| Professional                      fees                                                                |   |                                                                                                     | **5,293**     |                                                                                                                                          |   | 7,909 |   |   | 27,400 |   |
| Rent                      (Note 3)                                                                    |   |                                                                                                     | **750**       |                                                                                                                                          |   | 1,500 |   |   | 9,750 |   |
| Telephone                                                                                             |   |                                                                                                     | **214**       |                                                                                                                                          |   | 134 |   |   | 3,718 |   |
| Travel                                                                                                |   |                                                                                                     | **—**   |                                                                                                                                          |   | 1,714 |   |   | 13,774 |   |
|                                                                                                  |   |                                                                                                     | **10,627**    |                                                                                                                                          |   | 23,197 |   |   | 119,985 |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Net                      Loss For The Period**                                                      |   | **$**                                                                                                    | **(10,627**   | )                                                                                                                                             | $      | (23,559 | ) | $ | (119,761 | ) |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Net                      Loss Per Share**,                      Basic and diluted                   |   | **$**                                                                                                    | **(0.00**     | )                                                                                                                                             | $      | (0.01 | ) |   |   |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Weighted                      Average Number Of****Common                      Shares Outstanding** |   |                                                                                                     | **3,010,000** |                                                                                                                                          |   | 3,010,000 |   |   |   |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Other                      Comprehensive Loss**                                                     |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Net                      loss for the period**                                                      |   | **$**                                                                                                    | **(10,627**   | )                                                                                                                                             | $      | (23,559 | ) |   |   |   |
| **Foreign                      currency translation adjustment**                                      |   |                                                                                                     | **(661**      | )                                                                                                                                             |   | 1,312 |   |   |   |   |
|                                                                                                  |   |                                                                                                     |          |                                                                                                                                          |   |   |   |   |   |   |
| **Total                      Comprehensive Loss**                                                     |   | **$**                                                                                                    | **(11,288**   | )                                                                                                                                             | $      | (22,247 | ) |   |   |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENTS      OF CASH FLOWS**

**(Unuadited)**

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

|   |   |                            **THREE                            MONTHS ENDED****OCTOBER                            31** |   | CUMULATIVEPERIOD                            FROMINCORPORATIONJUNE                            62003                            TOOCTOBER                            31 |   |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |   |  **2005**                                                                                                             |   |  2004                                                                                                                                                            |   |  2005 |   |

| **Operating                Activities**                                                                  |   |   |             |   |   |         |   |   |          |   |
|----------------------------------------------------------------------------------------------------------|--------|--------|-------------|--------|--------|---------|--------|--------|----------|--------|
| Net                loss for the period                                                                   |   | **$**  | **(10,627** | **)**  | $      | (23,559 | )      | $      | (119,761 | )      |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **Adjustments                To Reconcile Net Loss To Cash Used By Operating                Activities** |   |   |             |   |   |         |   |   |          |   |
| Depreciation                                                                                             |   |   | **—** |   |   | 12      |   |   | 242      |   |
| Donated                services                                                                          |   |   | **4,500**   |   |   | 9,000   |   |   | 58,500   |   |
| Goods                and Services Tax receivable                                                         |   |   | **(628**    | **)**  |   | — |   |   | (1,290   | )      |
| Accounts                receivable                                                                       |   |   |             |   |   | 372     |   |   | —  |   |
| Prepaid                expenses                                                                          |   |   |             |   |   | (710    | )      |   | —  |   |
| Inventory                                                                                                |   |   | **—** |   |   | 1,117   |   |   | —  |   |
| Accounts                payable and accrued liabilities                                                  |   |   | **4,966**   |   |   | (2,168  | )      |   | 10,443   |   |
|                                                                                                     |   |   | **(1,789**  | **)**  |   | (15,936 | )      |   | (51,866  | )      |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **Investing                Activity**                                                                    |   |   |             |   |   |         |   |   |          |   |
| Purchase                of property and equipment                                                        |   |   | **—** |   |   | — |   |   | (242     | )      |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **Financing                Activities**                                                                  |   |   |             |   |   |         |   |   |          |   |
| Advances                payable to related parties                                                       |   |   | **637**     |   |   | 3,430   |   |   | 27,528   |   |
| Issue                of common shares                                                                    |   |   | **—** |   |   | — |   |   | 27,900   |   |
| Bank                indebtedness                                                                         |   |   |             |   |   | 6,300   |   |   | —  |   |
|                                                                                                     |   |   | **637**     |   |   | 9,730   |   |   | 55,428   |   |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **Foreign                Exchange Effect On Cash**                                                       |   |   | **(661**    | **)**  |   | 1,312   |   |   | (1,599   | )      |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **(Decrease)                Increase In Cash During The Period**                                         |   |   | **(1,813**  | **)**  |   | (4,894  | )      |   | 1,721    |   |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **Cash,                Beginning Of Period**                                                             |   |   | **3,534**   |   |   | 27,424  |   |   | —  |   |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **Cash,                End Of Period**                                                                   |   | **$**  | **1,721**   |   | $      | 22,530  |   | $      | 1,721    |   |
|                                                                                                     |   |   |             |   |   |         |   |   |          |   |
| **Supplemental                Cash Flow Information**                                                    |   |   |             |   |   |         |   |   |          |   |
| 2,000,000                common shares issued for debt settlement                                        |   | **$**  | **—** |   | $      | — |   | $      | 15,000   |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

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

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

**(Unuadited)**

**(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****(DEFICENCY)** |   |
| 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                                                  | )      | $ | (938 | ) | $ | (13,172 | ) |
|                                                                                      |   |                       |      |       |   |                                 |   |                                                                              |    |                                              |   |                                                      |   |   |   |   |   |   |   |
| Foreign                  currency translation                                             |   |                       | —   |       |   | —                              |   |                                                                              | — |                                              |   | —                                                   |   |   | (661 | ) |   | (661 | ) |
| Non-cash                  services from                                                   |   |                       |      |       |   |                                 |   |                                                                              |    |                                              |   |                                                      |   |   |   |   |   |   |   |
| a                  director                                                               |   |                       | —   |       |   | —                              |   |                                                                              | 4,500   |                                              |   | —                                                   |   |   | — |   |   | 4,500 |   |
| Net                  loss for the period                                                  |   |                       | —   |       |   | —                              |   |                                                                              | — |                                              |   | (10,627                                                   | )      |   | — |   |   | (10,627 | ) |
|                                                                                      |   |                       |      |       |   |                                 |   |                                                                              |    |                                              |   |                                                      |   |   |   |   |   |   |   |
| Balance,                  October 31, 2005                                                |   |                       | 3,010,000 |       | $      | 3,010                                |   | $                                                                                 | 98,390  |                                              | $      | (119,761                                                  | )      | $ | (1,599 | ) | $ | (19,960 | ) |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**OCTOBER      31, 2005**

**(Unaudited)**

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

| **1.** |   | **BASIS                OF PRESENTATION AND GOING CONCERN                CONSIDERATIONS** |
|--------|--------|------------------------------------------------------------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**OCTOBER      31, 2005**

**(Unaudited**

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

| **1.** |   | **BASIS                OF PRESENTATION AND GOING CONCERN CONSIDERATIONS**(Continued) |
|--------|--------|--------------------------------------------------------------------------------------|

| **2.** |   | **PROPERTY                    AND                    EQUIPMENT** |
|--------|--------|------------------------------------------------------------------|

|                                |   | **COST** |   | **ACCUMULATED****DEPRECIATION** |   | **OCTOBER                  31****2005****NET                  BOOK****VALUE** |   | **JULY                  31****2005****NET                  BOOK****VALUE** |    |
|-------------------------------------|--------|----------|--------|---------------------------------|--------|-------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------|---------|
|                                |   |     |   |                            |   |                                                                          |   |                                                                       |    |   |   |   |   |
| Computer                  equipment |   | $        | 242    |                            | $      | 242                                                                           |   | $                                                                          | — |   | $ | — |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**OCTOBER      31, 2005**

**(Unaudited**

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

| **3.** | **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 $ 3,750 (2004 - $7,500) and rent                of                $750 (2004 - $1,500) have been recorded, and additional paid-in capital                has been increased by the corresponding                amount. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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