|                               |  | UNITED STATES SECURITIES AND EXCHANGE COMMISSION      
|------------------------------ |  | ------------------------------------------------------
|                               |  | Washington, D.C. 20549                                
|                              
|                               |  | FORM 10-KSB                                           
|(Mark One)                     |  |                                                       
|[X]                            |  | ANNUAL REPORT PURSUANT TO SECTION 13                  
|                               |  | OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934       
|                               |  | For the fiscal year ended September 30, 2008          
|                              
|                               |  | OR                                                    
|                              
|[ ]                            |  | TRANSITION REPORT PURSUANT TO SECTION 13              
|                               |  | OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934       
|                               |  | For the transition period from                        
|                              
|                               |  | Commission File Number333-140322                      
|                              
|                               |  | NORTHWEST CHARIOTS INCORPORATED                       
|                               |  | (Exact name of registrant as specified in its charter)
|                              
|                               |  | Nevada                                                
|                               |  |                                                       
|State or other jurisdiction of |  | (I.R.S. Employer                                      
|incorporation or organization  |  | Identification No.)                                   

240, 222 Baseline Road, Suite 209, Sherwood Park, AB, T8H 1S8(Address of principal executive offices) (Zip Code)

Registrants telephone number, including area code: (780) 691-1188

Securities registered under Section 12(b) of the Exchange Act:
Title of each class
None
Securities registered under Section 12(g) of the Exchange Act:
     Name of each exchange on which registered
None




|Common Stock, $0.001 Par Value(Title of class)
|----------------------------------------------

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. _X_Yes __No

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is not contained in this form, and no disclosure will be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. ___X____

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes __ No __X_

Net revenues for its most recent fiscal year: $17,900

Aggregate market value of the voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold as of November 30, 2008: $94,000

Number of common voting shares issued and outstanding as of November 30, 2008: 4,440,000 shares of common stock

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|DOCUMENTS INCORPORATED BY REFERENCE
|-----------------------------------

If the following documents are incorporated by reference, briefly describe them and identify the part of the Form 10-KSB (e.g. Part I, Part II, etc.) into which the document is incorporated: (1) any annual report to security holders; (2) any proxy or information statement; and (3) any prospectus filed pursuant to Rule 424(b) or (c) of the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1990).

Transitional Small Business Disclosure Format (Check one): 
_________Yes ____X______No

2

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|                                                                                                |  | TABLE OF CONTENTS                                                                      |  |     
|----------------------------------------------------------------------------------------------- |  | -------------------------------------------------------------------------------------- |  | ----
|                                                                                               
|                                                                                               
|                                                                                                |  |                                                                                        |  | Page
|                                                                                               
|                                                                                               
|PART I                                                                                          |  |                                                                                        |  |     
|Item 1.                                                                                         |  | Description of Business                                                                |  | 4   
|Item 2.                                                                                         |  | Description of Property                                                                |  | 7   
|Item 3.                                                                                         |  | Legal Proceedings                                                                      |  | 7   
|Item 4.                                                                                         |  | Submission of Matters to a Vote of Security Holders                                    |  | 7   
|                                                                                               
|PART II                                                                                         |  |                                                                                        |  |     
|Item 5.                                                                                         |  | Market For Registrants Common Equity and Related Stockholder Matters and Small        |  | 8   
|                                                                                                |  | Business Issuer Purchases of Equity Securities                                         |  |     
|Item 6.                                                                                         |  | Managements Discussions and Analysis or Plan of Operation                             |  | 9   
|Item 7.                                                                                         |  | Financial Statements and Supplementary Data                                            |  | 11  
|Item 8.                                                                                         |  | Changes in and Disagreements With Accountants on Accounting and Financial Disclosure   |  | 12  
|Item 8A. Controls and Procedures                                                                |  | 12                                                                                    
|Item 8B. Other Information                                                                      |  | 13                                                                                    
|                                                                                               
|PART III                                                                                        |  |                                                                                       
|Item 9.                                                                                         |  | Directors, Executive Officers, Promoters and Control Persons and Corporate Governance: |  | 13  
|                                                                                                |  | Compliance with Section 16(a) of the Exchange Act                                      |  |     
|Item 10. Executive Compensation                                                                 |  | 15                                                                                    
|Item 11. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder |  | 16                                                                                    
|                                                                                                |  | Matters                                                                                |  |     
|Item 12. Certain Relationships and Related Transactions and Director Independence               |  | 17                                                                                    
|Item 13. Exhibits                                                                               |  | 17                                                                                    
|Item 14. Principal Accountant Fees and Services                                                 |  | 18                                                                                    
|Signatures                                                                                      |  | 19                                                                                    

3

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|PART I
|------



|ITEM 1. DESCRIPTION OF BUSINESS
|-------------------------------

Business Development

We incorporated as Northwest Chariots Incorporated (referred to herein as Chariots, we, us, our and similar terms) on April 4, 2006, in the State of Nevada. Our principal executive offices are located at 240, 222 Baseline Road, Suite 209, Sherwood Park, AB, T8H 1S8. Our telephone number is (780) 691-1188. Our fiscal year end is September 30.

We are in the process of establishing a retail sales and rental business for electrically powered human transporters. Human transporters are individually manned scooters where the individual commuter propels himself or herself to his or her chosen destination. These transportation devices take up less space when parked and allow for greater mobility as they are well designed for used in congested areas.

With the continuing rising costs for petroleum-based fuel contrasted against the use of electricity as an energy source and the already proven acceptance of these transporter products, we believe that we can fill a need by providing personal human transporter products to the metropolitan areas market.

Since incorporation, we have not been involved in any mergers, acquisitions or consolidations. We have never declared bankruptcy, been in receivership, or been involved in any legal action or proceedings.

Principal Products and Services

We intend to retail and make available for rental various types of electrically powered personal transporters. Some of these are:

- The electric bicycle. This is a two-wheel three-way power pedal bicycle. The rider can pedal as a regular bicycle, choose pedal-assist with a mode switch on the handlebar, or choose full electric power with the grip handle speed control.
- The chariot. This unit has two wheels that are parallel with a pole in the middle. The user is able to stand on the platform above the wheels and lean forward, backwards or side to side and the transporter will respond accordingly, traveling upwards of 15 km per hour. With the latest advances in gyros, tilt sensors, and high performance motors these machines may become the most common means of transportation in densely populated centers and environmentally friendly communities.
- The quad. This unit has four wheels with a very stable platform and seat for the operator. Especially designed for seniors and those with disabilities, development has created transporters that are being used in expanded markets.
- Special Order.For specific applications and sports enthusiasts, appropriately modified units will be available by special order.

The Market

We intend to direct market to the corporate consumer and plan to promote our transporters to large corporations throughout Western Canada, who will in turn offer the units to their management, staff and employees. Initially, we will direct our selling efforts toward those companies who are the primary employer in a single-industry based community. This will be done by way of personal appointments with purchasing agents. We believe that one of our strong selling points is that our products are environmentally and green friendly: not using fossil fuels.

We will also market through two (2) key forms of advertising. The first will be through print media, direct mail and newspapers. We will seek to create a media presence and work towards establishing and identifying our niche market. The second will be to initiate cross-promotions with rental shops, offering performance-based commission on assigned agreements.

Internet marketing will constitute a portion of our focus. By having a presence on the Internet, we believe that costs will remain lower and cross-promotions will allow the name and service to reach a much wider audience than would

4

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otherwise be the case. We will model the website to show a fun and exciting way to enjoy life and a unique way to explore, commute, and save on parking.

As a start-up company, our competitive position within the industry is poor. The challenge before us is to build our business and establish it as a viable going concern.

Competition and Competitive Strategy

There are a number of retailers selling the same or similar products. In addition, there are a number of rental companies who are offering bicycles, while others are offering fossil
fuel driven transporters. We have been unable to find any company that is currently offering environmentally-friendly transporters targeting corporate consumers or commuters living too far from their workplace to walk, but too close to drive an
automobile.

We currently plan to use local suppliers in Edmonton and Calgary who have suitable product available on site. The advantage of dealing with a local supplier is the quick delivery
time. With local suppliers, we are able to purchase the transporters as specific orders are received and no surplus inventory needs to be kept in stock. Unfortunately, this method also requires that we accept available models. Additionally, the cost
of our products will be higher.

Suppliers in the United States are willing to supply units either singly or by volume purchase with a pick-up option for better pricing. We should be able to order according to
customer specification and anticipate cost prices will be lower due to an increased selection of distributors.

The most cost effective method to purchase inventory is to import a container load of product direct from manufacturers in China. We plan to utilize these suppliers when we are
generating enough sales to support an investment in large inventory volumes.

Dependence on One or a Few Major Customers

Since we are targeting both corporations and individual consumers, we are not dependent on one or a few major customers.

Patent, Trademark, License and Franchise Restrictions and Contractual Obligations and Concessions

There are no inherent factors or circumstances associated with this industry, or any of the products or services that we plan to provide that would give cause for any patent,
trademark or license infringements or violations. We have not entered into any franchise agreements or other contracts that have given, or could give rise to obligations or concessions.

Governmental Controls and Approvals

With regard to both the retail and the customer service portions of our business, the major area for government control or need for government approval relates to business licensing.
We will take all reasonable precautions to ensure that affiliated businesses working with us have the necessary business license(s) and are in good standing with local governing authorities.

All of the products being offered for sale will be purchased from reputable service providers and will carry the necessary government and industry standard approvals.

Existing or Probable Government Regulations

Other than the licensing requirements discussed above, there are no other types of government regulations existing, nor are we aware of any such regulations being contemplated, that
adversely affect our ability to operate our business.

Research and Development Activities and Costs

We have not incurred any costs to date relating to research and development and have no plans to undertake any research and development activities within the next twelve
months.

5

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Compliance with Environmental Laws

There are no environmental laws that have been enacted that would affect our business, nor are we aware of any such laws being contemplated in the future that address issues specific
to our business.

Employees

Our officers and directors are responsible for planning, developing and operational duties and will continue to do so throughout the early stages of our growth. We have not contracted
or made any plans with any entities or persons to provide subcontract services. We have no intentions in hiring any employees until our business has been successfully launched and there is sufficient and reliable revenue from operations. Human
resources planning will be part of an ongoing process that will include constant evaluation of operations and revenue realization. We do not expect to hire any employees during the next year on operations.

Risk Related to our Business

You should carefully consider the following risk factors and all other information contained herein as well as the information included in this Annual Report in evaluating our
business and prospects. The risks and uncertainties described below are not the only ones we face. Additional unknown risks and uncertainties, or that we currently believe are immaterial, may also impair our business operations. If any of the
following risks occur, our business and financial results could be harmed. You should refer to the other information contained in this Annual Report, including our financial statements and the related notes.

We Have a Limited Operating History.

We have a limited operating history. Our operations will be subject to all the risks inherent in the establishment of a developing enterprise and the uncertainties arising from the
absence of a significant operating history. No assurance can be given that we may be able to operate on a profitable basis.

We may Require Significant Additional Financing before our Products may be Marketed and Sold Successfully and Profitably and There is No Assurance that such Funds
will be Available as, if and when Needed.

We have only raised $94,000, which was, along with our limited sales, sufficient to fund our operations for the last twelve (12) months. Our ability to purchase sufficient
inventory and market our products and services to potential customers will be dependent upon our ability to raise significant additional financing. With recent events in worldwide capital markets there can be no assurance that we will be able to
obtain financing on acceptable terms in light of factors such as the market demand for our securities, the state of financial markets generally and other relevant factors.

Inability Of Our Officers And Directors To Devote Sufficient Time To The Operation Of Our Business May Limit Our Success.

Presently, our officers and directors allocate only a portion of their time to the operation of our business. Should our business develop faster than anticipated, our officers may not
be able to devote sufficient time to the operation of our business to ensure that it continues as a going concern. Even if our managements lack of sufficient time is not fatal to our existence, it may result in our limited growth and
success.

Unproven Profitably Due to Lack of Operating History Makes an Investment in Us an Investment in an Unproven Venture.

We were formed on April 4, 2006. Since our date of inception, we have not had significant revenues or operations and we have few assets. Due to our lack of operating history, the
revenue and income potential of our business is unproven. If we cannot successfully implement our business strategies, we may not be able to generate sufficient revenues to operate profitably. Since our resources are very limited, insufficient
revenues would result in termination of our operations, as we cannot fund unprofitable operations unless additional equity or debt financing is obtained.

Our Independent Auditors Report States that there is a Substantial Doubt that we will be able to Continue as a Going Concern.

6

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Our independent auditors, Bateman & Co., Inc. P.C., state in their audit report, that since we have minimal business operations to date and losses to date of approximately $107,000, there is a substantial doubt that we will be able to continue as a going concern.

Our Management Currently Controls our Company and Thus You Will Most Likely Not be Able to Influence the Control of the Company Through Elections to the Board of Directors.

Our management, collectively, owns 78.83% of our total issued and outstanding shares of common stock. Therefore, our management will continue to retain control of us.



|ITEM 2. DESCRIPTION OF PROPERTY.
|--------------------------------

We do not own or rent facilities of any kind. At present we are operating from our principal office that is located within the offices of our Secretary, Ms. Barbara Ceretzke, who provides this space free of charge. We will continue to use this space for our executive offices for the foreseeable future.

We do not have any manufacturing plants and have minimal equipment for the operation of our business.

Investment Policies

We do not have any investments in real estate or interest in real estate or investments real estate mortgages. We also do not have any investments in any securities of or interests in persons primarily engaged in real estate activities.

Description of Real Estate and Operating Data

None



|ITEM 3. LEGAL PROCEEDINGS.
|--------------------------



|
|

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

We have not yet held our annual shareholders meeting or submitted any matters to a vote of shareholders during the fiscal year to which this Annual Report pertains.

7

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|PART II
|-------
|       
|       
|ITEM 5.
|       

Market for Common Equity and Related Stockholder Matters

(a) Market Information

Our shares of common stock, par value $0.001 per share, were appeared for quotation on the OTC Bulletin Board under the symbol NWIO. As of December 31, 2008, no trades for our stock have taken place on the OTC/BB

Fiscal Year Ended September 30, 2008

|Quarter |  | September |  | December |  | March |  | June
|------- |  | --------- |  | -------- |  | ----- |  | ----
|        |  |           |  |          |  |       |  |     
|High    |  | --        |  | --       |  | --    |  | --  
|        |  |           |  |          |  |       |  |     
|Low     |  | --        |  | --       |  | --    |  | --  
|        |  |           |  |          |  |       |  |     

(b) Holders

As of December 31, 2008, there were approximately forty-three (43) holders of record of our common stock.

(c) Dividend Policy

We have never declared or paid dividends on our common stock. We intend to retain earnings, if any, to support the development of our business and therefore do not anticipate paying cash dividends for the foreseeable future. Payment of future dividends, if any, will be at the discretion of our board of directors after taking into account various factors, including current financial condition, operating results and current and anticipated cash needs.

(d) Securities authorized for issuance under equity compensation plans

None.

RECENT SALES OF UNREGISTERED SECURITIES;

The following is a history of our sales of unregistered securities since our incorporation on April 4, 2006.

On April 4, 2006, Douglas Dewar, who is the founder of our company and a member of our Board, purchased by subscription 1,500,000 shares of common stock at a price of $0.01 per share for a total of $15,000.

Our other officer and directors, namely Mr. James Davies and Mr. Robert Doolan, each purchased 1,000,000 shares for a total of 2,000,000 shares of our company stock on September 25, 2006, in a private offering at a price of $0.01 per share for a total of $20,000.

All of the above noted securities were sold in reliance on Regulation D, Section 504 of the Securities Act of 1933. All shareholders are subject to Rule 144 of the Securities Act of 1933 with respect to resale. We relied on this exemption from registration due to the fact that at the time of these sales we were not subject to the reporting requirements of Section 13 or 15(d) of the Securities Act of 1933, not an investment company, we had a specific business plan at the time we sold the securities, we are not a blank check company, as that term is defined in Rule 419(a)(2) of Regulation C or Rule 504 (a)(3) of Regulation D of the Securities Act of 1933, and the aggregate offering price was less that $1,000,000. All of the subscribers are either our directors and/or officers of our Company.

No underwriters were used, and no commissions or other remuneration was paid except as otherwise noted above.

USE OF PROCEEDS FROM REGISTERED SECURITIES

8

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As previously reported, on February 9, 2007 our Registration Statement on Form SB-2 was declared effective, and on August 31, 2007, we completed a maximum offering of 940,000 common shares at a price of $0.10 per share. On August 5, 2008, we obtained regulatory approval to post our common shares for trading on the OTC/BB under the trading symbol NWIO.

All of the proceeds from our offering have been spent and have been used to fund our operations as described in the SB-2 offering document incorporated by reference herein.

As of the date of this Form 10-KSB Annual Report, there are 4,440,000 issued and outstanding shares of common stock of which 3,500,000 shares are held by our officers and directors.

DESCRIPTION OF SECURITIES

Common Stock

There are presently 4,440,000 common shares issued and outstanding.

Each record holder of common stock is entitled to one vote for each share held in all matters properly submitted to the stockholders for their vote. Cumulative voting for the election of directors is not permitted by the By-Laws of Chariots.

Holders of outstanding shares of common stock are entitled to such dividends as may be declared from time to time by the Board of Directors out of legally available funds; and, in the event of liquidation, dissolution or winding up of the affairs of Chariots, holders are entitled to receive, ratably, the net assets of Chariots available to stockholders. Holders of outstanding shares of common stock have no preemptive, conversion or redemptive rights. To the extent that additional shares of Chariots common stock are issued, the relative interest of the existing stockholders may be diluted.

Stock Purchase Warrants

None.

Stock Purchase Options

None.

ITEM 6. MANAGEMENTS PLAN OF OPERATION.

We have generated only $17,900 in revenues from the sale of products since our inception. The following should be read jointly with the financial statements, related notes, and the cautionary statement regarding forward-looking statements, which appear elsewhere in this filing.

Plan of Operation for the Next Twelve (12) Months

The following discussion of our plan of operation, financial condition, results of operations, cash flows and changes in financial position should be read in conjunction with our most recent financial statements and notes appearing elsewhere in this Form 10-KSB annual report; our From 10-QSB filed on August 14, 2008, our 10-KSB/A filed July 3, 2008, our Form 10-QSB filed on May 20, 2008, our Form 10-QSB filed on February 27, 2008, and our Form 10-KSB annual report filed January 15, 2008.

Our continuing operations are dependent upon the identification and successful completion of additional long-term or permanent equity financing, the support of creditors and shareholders, and, ultimately, the achievement of profitable operations. There can be no assurances that we will be successful, which would in turn significantly affect our ability to complete the roll-out of our business plan. If not, we will likely be required to reduce operations or liquidate assets. We will continue to evaluate our projected expenditures relative to our available cash and to seek additional means of financing in order to satisfy our working capital and other cash requirements.

9

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We are in the process of establishing a retail sales and rental business for electrically powered human transporters. We intend to purchase various models of transporters from a
number of different manufacturers and suppliers and then sell and/or rent the units in two (2) distinct markets. Our first target market consists of corporate clients, anticipating they will encourage their management, staff and employees to
purchase the environmentally-friendly transporters. Our second target market is comprised of individuals who will shop at our retail location or make inquiries via our website.

We believe we have only sufficient cash resources to satisfy our needs to the end of December 2008. Our ability to satisfy cash requirements thereafter and the need for additional
funding is dependent on our ability to generate revenue from our business in sufficient quantity and on a profitable basis. To the extent that we require additional funds to support our operations or the expansion of our business, we may attempt to
sell additional equity shares or issue debt. Any sale of additional equity securities will result in dilution to our stockholders. Should we require additional cash in the future, there can be no assurance that we will be successful in raising
additional debt or equity financing on terms acceptable to us, if at all.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Full Fiscal Years

At September 30, 2008, we had working capital of $14,999, compared to working capital of $90,400 at September 30, 2007. At September 30, 2008 our total assets consisted of
cash of $4,769, inventory or $11,119 and capital assets of $6,206. This compares with our total assets at September 30, 2007, consisted of cash of $96,480.

At September 30, 2008, our total current liabilities decreased to $889 from $6,080 at September 30, 2007.

We recognized $17,900 in revenue from the sale and rental of personal transporters for the year ended September 30, 2008. Cost of goods sold for the year ended September 30, 2008
were $9,500, resulting in a profit of $8,400. This compares with nil revenues during the year ended September 30, 2007.

We have recognized a total of $17,900 in revenue since inception. Our short and long term survival is dependent on funding from increased sales and rentals of personal
transporters as necessary or from shareholder loans.

Result of Operations

For the year ended September 30, 2008, operating expenses were $76,038 compared to $39,702 for the year end September 30, 2007. The increase of $36,336 was due to an
increase in our operational activities over the prior period. Operating expenses to the year end September 30, 2008, consisted of professional fees of $28,738, marketing costs of $18,959, office and administration costs of $18,413, rent
of $7,786 and depreciation and amortization totaling $2,142. This compares with expenses to the year end September 30, 2007, consisting of professional fees of $31,462 and office and administration costs of $8,240.

We recognized a loss of $717 on foreign exchange for the year ended September 30, 2008 compared with a gain of $2,853 on foreign exchange for the year end September 30,
2007.

We posted a net loss of $68,355 for the year ended September 30, 2008, compared to a net loss of $36,849 for the year ended September 30, 2007. From inception to September 30,
2008 we have incurred a net loss of $106,955. The principal components of losses were professional fees of $60,200, office and administration expenses of $26,699, marketing costs of $18,959, cost of goods sold of $9,500, rental
costs of $7,786, organizational costs of $1,705, and depreciation and amortization of $2,142.

As of November 15, 2008, our net cash balance is approximately $5,512. We do not have any lending arrangements in place with banking or financial institutions and we do not
anticipate that we will be able to secure these funding arrangements in the near future.

We believe our existing cash balances are only sufficient to carry our normal operations for the three (3) months ending December 31, 2008. To the extent that we require additional
funds to support our operations or the expansion of our business, we may attempt to sell additional equity shares or issue debt. Any sale of additional equity securities will result in dilution to our stockholders. With the turmoil in recent events
in worldwide capital

10

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markets, there can be no assurance that additional financing, if required, will be available to us or, if available to us, on acceptable terms.

We believe our market risk exposures arise primarily from exposures to fluctuations in interest rates and exchange rates. We presently only transact business in Canadian and United States Dollars. We believe that the exchange rate risk surrounding our future transactions will not materially or adversely affect our future earnings. We do not use derivative financial instruments to manage risks or for speculative or trading purposes.

Off Balance Sheet Arrangements.

None.



|ITEM 7. FINANCIAL STATEMENTS.
|-----------------------------

The financial statements required by this Item 7 begin on Page F-1 of this Form 10-KSB, and include: (1) Report of Independent Registered Public Accounting Firm; (2) Balance Sheets; (3) Statements of Operations, Statements of Cash Flows, Statement of Stockholders Equity; and (4) Notes to Financial Statements.

11

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NORTHWEST CHARIOTS INCORPORATED

(A Development Stage Company) INDEX TO FINANCIAL STATEMENTS



|with
|----

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

|SEPTEMBER 30, 2008                                      |  |            
|------------------------------------------------------- |  | -----------
|                                                       
|                                                        |  | Page       
|Report of Independent Registered Public Accounting Firm |  | F-2        
|Financial Statements:                                   |  |            
|Balance Sheets                                          |  | F-3        
|Statements of Operations                                |  | F-4        
|Statements of Stockholders Equity                      |  | F-5        
|Statements of Cash Flows                                |  | F-6        
|Notes to Financial Statements                           |  | F-7 to F-10

F-1

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| | Bateman & Co., Inc., P.C.Certified Public Accountants
| | -----------------------------------------------------



|19 Briar Hollow Lane, Suite 115Houston, Texas 77027(713) 552-9800FAX (713) 552-9700www.batemanhouston.com
|---------------------------------------------------------------------------------------------------------

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To The Board of Directors and Stockholders Of Northwest Chariots Incorporated

We have audited the accompanying balance sheets of Northwest Chariots Incorporated, (a Nevada corporation and a development stage enterprise) as of September 30, 2008 and 2007, and the related statements of operations, stockholders equity, and cash flows for each of the years ended September 30, 2008 and 2007, and for the period from inception, April 4, 2006, through September 30, 2008. Northwest Chariots Incorporateds management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Northwest Chariots Incorporated (a development stage enterprise) as of September 30, 2008 and 2007, and the results of its operations and its cash flows for each of the years ended September 30, 2008 and 2007, and for the period from inception, April 4, 2006, through September 30, 2008, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has had only minimal business operations to date, has suffered losses from development stage activities to date approximating $107,000, and has only approximately $15,000 in working capital, all of which raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.



|/s/ Bateman & Co., Inc., P.C.BATEMAN & CO., INC., P.C.
|------------------------------------------------------



|Houston, TexasDecember 26, 2008
|-------------------------------

F-2

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NORTHWEST CHARIOTS INCORPORATED



|(A Development Stage Company)
|-----------------------------



|BALANCE SHEETS
|--------------

|                                                                 |  | September 30, |  | September 30,
|---------------------------------------------------------------- |  | ------------- |  | -------------
|                                                                 |  | 2008          |  | 2007         
|                                                                
|ASSETS                                                           |  |               |  |              
|Current Assets                                                   |  |               |  |              
|Cash                                                             |  | $4,769        |  | $ 96,480     
|Inventory, at cost                                               |  | 11,119        |  | -            
|                                                                 |  |               |  |              
|Total Current Assets                                             |  | 15,888        |  | 96,480       
|Property and Equipment                                           |  |               |  |              
|Equipment, net of accumulated depreciation of $1,176             |  | 3,695         |  | -            
|Other Assets                                                     |  |               |  |              
|Website Development Costs, net of amortization of $966           |  | 2,511         |  | -            
|                                                                 |  |               |  |              
|Total Assets                                                     |  | $22,094       |  | $ 96,480     
|                                                                 |  |               |  |              
|LIABILITIES                                                      |  |               |  |              
|Current Liabilities:                                             |  |               |  |              
|Accounts payable and accrued expenses                            |  | $889          |  | $ 6,080      
|                                                                 |  |               |  |              
|Total Current Liabilities                                        |  | 889           |  | 6,080        
|                                                                 |  |               |  |              
|                                                                
|STOCKHOLDERS EQUITY                                             |  |               |  |              
|Capital Stock                                                    |  |               |  |              
|Authorized:                                                      |  |               |  |              
|75,000,000 common shares, par value $0.001 per share             |  |               |  |              
|Issued and outstanding:                                          |  |               |  |              
|4,440,000 common shares at September 30, 2008 and                |  |               |  |              
|September 30, 2007, respectively                                 |  | 4,440         |  | 4,440        
|Additional paid-in capital                                       |  | 124,560       |  | 124,560      
|Deficit Accumulated During the Development Stage                 |  | (106,955)     |  | (38,600)     
|Accumulated Comprehensive Income (Loss)                          |  | (840)         |  | -            
|                                                                 |  |               |  |              
|Total Stockholders Equity                                       |  | 21,205        |  | 90,400       
|                                                                 |  |               |  |              
|Total Liabilities and Stockholders Equity                       |  | $22,094       |  | $ 96,480     
|                                                                 |  |               |  |              
|                                                                
|The accompanying notes are an integral part of these statements.

F-3

---

|NORTHWEST CHARIOTS INCORPORATED |  |                              
|------------------------------- |  | -----------------------------
|                                |  | (A Development Stage Company)
|                               
|                                |  | STATEMENTS OF OPERATIONS     
|                               
|                               
|                                |  |                              
|                                |  | Year ended                   
|                                |  | September 30,                
|                                |  | 2008                         
|                                |  |                              
|                               
|Sales and Rental Revenues       |  | $ 17,900                     
|                                |  |                              
|                               
|Cost of Sales                   |  | 9,500                        
|                                |  |                              
|                               
|Gross Profit                    |  | 8,400                        
|                                |  |                              
|                               
|Expenses                        |  |                              
|Depreciation and amortization   |  | 2,142                        
|Marketing                       |  | 18,959                       
|Office and administration       |  | 18,413                       
|Organizational costs            |  | -                            
|Professional fees               |  | 28,738                       
|Rent                            |  | 7,786                        
|                                |  |                              
|                               
|Total Expenses                  |  | 76,038                       
|                                |  |                              
|                               
|(Loss) from Operations          |  | (67,638)                     
|                               
|Other Income (Expense)          |  |                              
|Gain (Loss) on foreign          |  |                              
|exchange                        |  | (717)                        
|                                |  |                              
|                               
|Net (Loss)                      |  | $ (68,355)                   
|                                |  |                              
|                               
|Basic And Diluted Loss Per      |  |                              
|Share                           |  | $ (0.02)                     
|                                |  |                              
|                               
|Weighted Average Number Of      |  |                              
|Shares Outstanding              |  | 4,440,000                    

The accompanying notes are an integral part of these statements.

F-4

---

|NORTHWEST CHARIOTS INCORPORATED   
|----------------------------------
|(A Development Stage Company)     
|                                  
|STATEMENTS OF STOCKHOLDERS EQUITY
|                                  
|                                  
|                                  
|                                  
|                                  
|                                  
|                                  
|                                  
|                                  
|                                  
|Inception,                        
|April 4, 2006  Shares            
|issued for cash at $0.01          
|                                  
|September 25, 2006               
|Shares issued for cash            
|at $0.01                          
|                                  
|Net loss for the period           
|ended September 30,               
|2006                              
|                                  
|                                  
|Balances,                         
|September 30, 2006                
|                                  
|                                  
|September 18, 2007               
|Shares issued for cash            
|at $0.10                          
|                                  
|Net Loss for the year             
|ended September 30,               
|2007                              
|                                  
|                                  
|Balances,                         
|                                  
|September 30, 2007                
|                                  
|                                  
|Net Loss for the year             
|ended September 30,               
|2008                              
|                                  
|Change in other                   
|comprehensive income              
|- Foreign currency                
|translation adjustment            
|                                  
|                                  
|Total comprehensive               
|income (loss) (Memo               
|total)                            
|                                  
|                                  
|Balances                          
|September 30, 2008                
|                                  
|                                  
|                                  
|                                  
|                                  

F-5

---

NORTHWEST CHARIOTS INCORPORATED



|(A Development Stage Company)STATEMENTS OF CASH FLOWS
|-----------------------------------------------------

|                                          |  |               |  |              |  | Cumulative April 04,
|----------------------------------------- |  | ------------- |  | ------------ |  | --------------------
|                                          |  | Year ended    |  | Year ended   |  | 2006 (Inception)    
|                                          |  | September 30, |  | September 30 |  | Through             
|                                          |  | 2008          |  | 2007         |  | September 30, 2008  
|                                          |  |               |  |              |  |                     
|                                         
|Cash Flows from Operating Activities:     |  |               |  |              |  |                     
|Net (loss)                                |  | $ (68,355)    |  | $(36,849)    |  | $(106,955)          
|                                         
|Adjustments to Reconcile Net Loss to Net  |  |               |  |              |  |                     
|Cash Used by Operating Activities:        |  |               |  |              |  |                     
|Depreciation and amortization             |  | 2,142         |  | -            |  | 2,142               
|Changes in current assets and liabilities |  |               |  |              |  |                     
|Inventory                                 |  | (11,119)      |  | -            |  | (11,119)            
|Accounts payable and accrued liabilities  |  | (5,191)       |  | 4,375        |  | 889                 
|                                          |  |               |  |              |  |                     
|Net Cash Flows (Used In)                  |  |               |  |              |  |                     
|Operating Activities                      |  | (82,523)      |  | (32,474)     |  | (115,043)           
|                                          |  |               |  |              |  |                     
|                                         
|                                         
|Cash Flows from Investing Activities:     |  |               |  |              |  |                     
|Additions to equipment                    |  | (4,871)       |  | -            |  | (4,871)             
|Increase in website development costs     |  | (3,477)       |  | -            |  | (3,477)             
|                                          |  |               |  |              |  |                     
|Net Cash (Used In) Investing              |  |               |  |              |  |                     
|Activities                                |  | (8,348)       |  | -            |  | (8,348)             
|                                          |  |               |  |              |  |                     
|                                         
|                                         
|Cash Flows From Financing Activity:       |  |               |  |              |  |                     
|Sale of common shares                     |  | -             |  | 94,000       |  | 129,000             
|                                          |  |               |  |              |  |                     
|Net Cash Flows (Used In)                  |  |               |  |              |  |                     
|Provided by Financing Activities          |  | -             |  | 94,000       |  | 129,000             
|                                          |  |               |  |              |  |                     
|                                         
|                                         
|Net Cash Flows                            |  | (90,871)      |  | 61,526       |  | 5,609               
|Foreign currency translation adjustment   |  | (840)         |  | -            |  | (840)               
|                                         
|Cash, Beginning Of Period                 |  | 96,480        |  | 34,954       |  | -                   
|                                          |  |               |  |              |  |                     
|                                         
|Cash, End Of Period                       |  | $ 4,769       |  | $96,480      |  | $4,769              
|                                          |  |               |  |              |  |                     
|                                         
|                                         
|Supplemental Disclosure Of Cash Flow      |  |               |  |              |  |                     
|Information                               |  |               |  |              |  |                     
|Cash paid for:                            |  |               |  |              |  |                     
|Interest                                  |  | $ -           |  | $-           |  | $ -                 
|Income taxes                              |  | $ -           |  | $-           |  | $ -                 
|                                          |  |               |  |              |  |                     

The accompanying notes are an integral part of these statements.

F-6

---

NORTHWEST CHARIOTS INCORPORATED



| | (A Development Stage Company)NOTES TO FINANCIAL STATEMENTSSEPTEMBER 30, 2008 AND 2007
| | -------------------------------------------------------------------------------------

|1. | NATURE AND CONTINUANCE OF OPERATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|   | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|   | b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|2. | SIGNIFICANT ACCOUNTING POLICIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|   | This summary of significant accounting policies is presented to assist in understanding our financial statements. Our financial statements and notes are representations of our management who is responsible for their integrity and objectivity. These accounting policies conform to generally accepted accounting principles in the United States of America (GAAP) and have been consistently applied in the preparation of the financial statements. The financial statements are stated in United States of America dollars.
|  

|a) | Organizational and Start-up Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|   | Costs of start-up activities, including organizational costs, are expensed as incurred in accordance with Statements of Position (SOP) 98-5.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|b) | Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|  
|   | We have adopted the Statement of Financial Accounting Standards (SFAS) No. 109  Accounting for Income Taxes. SFAS 109 requires the use of the asset and liability method of accounting of income taxes. Under the asset and liability method of SFAS 109, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
|  
|   | We provide deferred taxes for the estimated future tax effects attributable to temporary differences and carry forwards when realization is more likely than not.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|  
|c) | Inventories                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|  
|   | Inventories are stated at the lower of cost or market, with cost being determined using the first-in first-out method. Inventories consist of purchased goods held for resale.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|   | One of the vehicles in inventory was sold after September 30, 2008 for $6,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  

F-7

---

NORTHWEST CHARIOTS INCORPORATED



| | (A Development Stage Company)NOTES TO FINANCIAL STATEMENTSSEPTEMBER 30, 2008 AND 2007
| | -------------------------------------------------------------------------------------

|d) | Property and Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|   | Property and equipment is stated at cost, and is depreciated over estimated useful lives using primarily the straight line method for financial reporting purposes. Useful lives range from 3 to 5 years. We evaluate equipment at least annually for impairment.                                                                                                                                                                                                                                                                                                                                                                                                   
|  
|e) | Website Development Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|  
|   | Website development costs are stated at identifiable costs in accordance with SFAS 142, and are being amortized ratably over an estimated beneficial useful life of three years. Costs of maintaining the website are expensed as incurred.                                                                                                                                                                                                                                                                                                                                                                                                                         
|  
|f) | Advertising                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|  
|   | Advertising costs are expensed as in accordance with SOP 93-7.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|g) | Basic and Diluted Loss Per Share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|  
|   | In accordance with SFAS No. 128  Earnings Per Share, the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. At September 30, 2008, we had no stock equivalents that were anti-dilutive and excluded in the earnings per share computation.
|  
|h) | Estimated Fair Value of Financial Instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|  
|   | The carrying value of our financial instruments, consisting of cash, accounts payable and accrued liabilities approximate their fair value due to the short-term maturity of such instruments. Unless otherwise noted, it is managements opinion that we are not exposed to significant interest, currency or credit risks arising from these financial statements.                                                                                                                                                                                                                                                                                                
|  
|i) | Revenue Recognition                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|  
|   | It is our policy that revenues will be recognized in accordance with SEC Staff Accounting Bulletin (SAB) No. 104, "Revenue Recognition." Under SAB 104, product revenues (or service revenues) are recognized when persuasive evidence of an arrangement exists, delivery has occurred (or service has been performed), the sales price is fixed and determinable and collectibility is reasonably assured. During the year ended September 30, 2008, we earned $6,000 in rental revenues from the temporary and incidental rental of vehicles in inventory.                                                                                                        
|  
|j) | Currency                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|  
|   | Our functional currency is the United States Dollar. Realized gain or loss on foreign currency transactions are reflected in the income statement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|  
|k) | Use of Estimates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|  
|   | The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.                                                                                                                                                                                                                                                        
|  
|l) | Cash and Cash Equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|  
|   | We consider all highly liquid debt instruments with an original maturity of three (3) months or less to be cash equivalents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|  
|m) | Concentrations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|  

F-8

---

NORTHWEST CHARIOTS INCORPORATED



| | (A Development Stage Company)NOTES TO FINANCIAL STATEMENTSSEPTEMBER 30, 2008 AND 2007
| | -------------------------------------------------------------------------------------

Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents. At September 30, 2008, we had $2,361 U.S. funds in deposit in a business bank account and U.S. equivalent of $2,408 in Canadian funds in a business account which are not insured by agencies of the U.S. Government.

|n) | Recent Accounting Pronouncements                                                                                                                                                              
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|   | There were various accounting standards and interpretations issued in 2008 and 2007, none of which are expected to have a material impact on our financial position, operations or cash flows.
|  
|o) | Other                                                                                                                                                                                         
|  
|   | We consist of one (1) reportable business segment. We paid no dividends during the periods presented.                                                                                         
|  

|3. | BASIS OF PRESENTATION  GOING CONCERN                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|   | Our accompanying financial statements have been prepared in conformity with GAAP, which contemplates our continuation as a going concern. However, we have minimal business operations to date. In addition, at September 30, 2008, we had incurred losses approximating $107,000, and have only approximately $15,000 in working capital. These matters raise substantial doubt about our ability to continue as going concern. In view of these matters, realization of certain of the assets in the accompanying balance sheet is dependent upon our ability to meet our financing requirements, raise additional capital, and the success of our future operations. There is no assurance that future capital raising plans will be successful in obtaining sufficient funds to assure our eventual profitability. While management believes that actions planned and presently being taken to revise our operating and financial requirements provide the opportunity for us to continue as a going concern, there is no assurance the actions will be successful. In addition, recent events in worldwide capital markets may make it more difficult for us to raise additional equity or debt capital.
|  
|   | Our financial statements do not include any adjustments that might result from these uncertainties.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|  
|4. | COMMON STOCK                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|  
|   | Our authorized common stock consists of 75,000,000 shares with a par value of $0.001 per share.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|  
|   | On April 04, 2006, we issued 1,500,000 shares of common stock at a price of $0.01 for cash totalling $15,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|  
|   | On November 25, 2006, we issued 2,000,000 shares of common stock at a price of $0.01 for cash totalling $20,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|  
|   | On September 18, 2007, we issued 940,000 shares of common stock at a price of $0.10 for cash totalling $94,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|  
|5. | INCOME TAXES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|  
|   | We are subject to US and Canadian income taxes. To date, we have accumulated losses of approximately $107,000, and therefore have paid no income tax. We expect tax rates in both the US and Canada to be approximately 34%. Substantially all operations to date have been in Canada.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|  
|   | Deferred income taxes arise from temporary timing differences in the recognition of income and expenses for financial reporting and tax purposes. Our deferred tax assets consist entirely of the benefit from net operating loss (NOL) carry-forwards. The NOL carry-forwards expire in 2028. Our deferred tax assets are offset by a                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|  

F-9

---

NORTHWEST CHARIOTS INCORPORATED

(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

SEPTEMBER 30, 2008 AND 2007

valuation allowance due to the uncertainty of the realization of the NOL carry-forwards. NOL carry-forwards may be further limited by a change our ownership and other provisions of the tax laws.

The provision for refundable Federal income tax, using an effective tax rate of thirty-four percent (34%), consists of the following:

|                                               |  | Year Ended    |  | Year Ended   
|---------------------------------------------- |  | ------------- |  | -------------
|                                               |  | September 30, |  | September 30,
|                                               |  | 2008          |  | 2007         
|                                               |  |               |  |              
|Refundable Federal income tax attributable to: |  |               |  |              
|Current operations                             |  | $(23,241)     |  | $(12,529)    
|Change in deferred tax valuation allowance     |  | 23,241        |  | 12,529       
|                                               |  |               |  |              
|Net refundable amount                          |  |               |  | - -          
|                                               |  |               |  |              

The cumulative tax effect at the expected rate of thirty-four percent (34%) of significant items comprising our net deferred tax amount is as follows:

|                                    |  | September 30, |  | September 30,
|----------------------------------- |  | ------------- |  | -------------
|                                    |  | 2008          |  | 2007         
|                                    |  |               |  |              
|Deferred tax asset attributable to: |  |               |  |              
|Net operating loss carryover        |  | $36,365       |  | $13,124      
|Less, Valuation allowance           |  | (36,365)      |  | (13,124)     
|                                    |  |               |  |              
|Net deferred tax asset              |  | -             |  | -            
|                                    |  |               |  |              

At September 30, 2008, we had an unused NOL carryover approximating $106,955 that is available to offset future taxable income; it expires beginning in 2026.

6. RELATED PARTY TRANSACTIONS

The President and Secretary performed services on our behalf without compensation during the period ended September 30, 2008. No provision for these costs has been provided since it has been determined that they are immaterial.

F-10

---

|ITEM 8.        | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
|-------------- | ------------------------------------------------------------------------------------
|None.
ITEM 8A. | CONTROLS AND PROCEDURES                                                             

Disclosure Controls and Procedures

The Company, under the supervision and with the participation of the Companys management, including the Companys Chief Financial Officer, performed an evaluation of the effectiveness of the design and operation of the Companys disclosure controls and procedures as of August 15, 2008. Based on that evaluation, the Chief Financial Officer concluded that the Companys disclosure controls and procedures were effective as of August 15, 2008.

ITEM 8(A)T. INTERNAL CONTROLS AND PROCEDURES

Managements Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in the Securities Exchange Act of 1934 Rule 13a-15(f). Our Chief Financial Officer conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control - Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO Framework").

Based on this evaluation, management has concluded that our internal control over financial reporting was effective as of August 15, 2008.

This annual report does not include an attestation report of the Companys independent registered public accounting firm regarding internal control over financial reporting. Managements report was not subject to attestation by the Companys independent registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only managements report on internal control in this annual report.

Changes in Internal Control over Financial Reporting

There were no changes in internal control over financial reporting that occurred during the last fiscal quarter covered by this report that have materially affected, or are reasonably likely to affect, the Companys internal control over financial reporting.



|ITEM 8B. OTHER INFORMATION
|--------------------------



|None.
|-----

12

---

|PART III
|--------
|        
|        
|ITEM 9. 
|        
|        

On September 8, 2008, Mr. Robert Doolan resigned as a member of the Board of Directors of Northwest Chariots, Inc., and as its Secretary and Treasurer. On September 8, 2008, the Board of Directors named Ms. Barbara Certzeke to fill the vacancy on the Board caused by Mr. Doolans resignation and also appointed Ms. Certzeke as the Companys Secretary and Treasurer.

On September 15, 2008, Mr. James Davies resigned as a member of the Board of Directors of Northwest Chariots, Inc. On September 15, 2008, the Board of Directors named Ms. Sharon Dusza to fill the vacancy on the Board caused by Mr. Davies resignation.

Directors and Executive Officers

The following sets forth the names, ages and positions of our current directors and executive officers (and persons nominated or chosen to become such) including their term(s) of office as a director and the period during which the person has served: a brief description of the persons business experience during the past five (5) years; and if a director, or any other directorship held in reporting companies naming such company.

|Name             |  | Age |  | Offices Held                  
|---------------- |  | --- |  | ------------------------------
|                
|Douglas Dewar    |  | 58  |  | Director, President           
|Barbara Ceretzke |  | 55  |  | Director, Secretary, Treasurer
|Sharon Dusza     |  | 33  |  | Director                      

Mr. Douglas Dewar - President, Member of the Board

Mr. Douglas Dewar has served as our President and a member of our Board of Directors (Board) since April 4, 2006. The term of his office is for two (2) years and thereafter renewable on an annual basis. Mr. Dewar also served as our Secretary/Treasurer from April 4, 2006 until his resignation on September 25, 2006.

Mr. Dewar is presently self-employed. In 1986, he founded, Dewar Sales and Associates Marketing Company. This company is a manufacturers agent for sporting goods which are sold to retailers. Examples of products he presently represents are tents, back packs, sportswear, camping equipment and electric motors.

Over the past twenty (20) years, Mr. Dewar also owned a number of retail companies including: Dewars Gallery and Gifts  1995 to 1997; Sea and Sun  1990 to 1995; and The Frozen Dolphin  1987 to 1992.

Mr. Dewar is not an officer or director of any other reporting company that files annual, quarterly, or periodic reports with the United States Securities and Exchange Commission.

Ms. Barbara Ceretzke ,- Secretary/Treasurer, Member of the Board

Ms. Barbara Ceretzke has served on the Board and as our Secretary/Treasurer since September 8, 2008. The term of her office is for two (2) years and is thereafter renewable on an annual basis.

At present Ms. Ceretzke is retired. Prior to her retirement in June 2008, Ms. Ceretzke was a self employed bus driver for the Strathcona Christian Academy in Sherwood Park, Alberta, Canada. She had been self employed as a bus driver since September 2004.

13

---

Prior to becoming a bus driver, Ms. Ceretzke was self employed as a full time private caregiver to an elderly couple in Sherwood Park, Alberta, Canada from September 1992 through
April 2004. Ms. Ceretzke's duties included personal health care, social needs, meal planning and cooking sensitive to a diabetic diet and other special nutritional needs as well as serving and assisted feeding. Ms. Ceretzke also coordinated the
service of other health care staff.

Ms. Barbara Ceretzke has served on the Board of Directors of Homassist Corporation from September 2004 through April 2006.

Ms. Ceretzke is not an officer or director of any other reporting company that files annual, quarterly, or periodic reports with the United States Securities and Exchange
Commission.

Ms. Sharon Dusza - Member of the Board,

Ms. Sharon Dusza has served on our Board since September 15, 2008. The term of her office is for two (2) years and is thereafter renewable on an annual basis.

At present Ms. Dusza is taking a maternity leave of absence from Argus Machine, of Edmonton, Alberta, where she has been employed since April 2007. The company is a supplier to the
oil industry in Alberta. As a rack hand, Ms. Duszas duties include equipment and shop maintenance, shipping/receiving and production. From September 2005 to March 2007, Ms. Dusza worked as a blade processor for Black
Cat Blades of Edmonton, Alberta, a supplier to the logging industry in Northern Alberta, British Columbia and the Northwest Territories. From January 2003 to August 2005, Ms. Dusza worked for Clareco Industries, a supplier of machined and custom
building products for both domestic and foreign markets.

Ms. Dusza is not an officer or director of any other reporting company that files annual, quarterly, or periodic reports with the United States Securities and Exchange
Commission.

Significant Employees

We have no employees at this time.

Family Relationships

None

Involvement In Certain Legal Proceedings

None.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities and Exchange Act of 1934 requires any person who is a director or executive officer or who beneficially holds more than ten percent (10%) of any class
of our securities which have been registered with the Securities and Exchange Commission, to file reports of initial ownership and changes in ownership with the Securities and Exchange Commission. These persons are also required under the
regulations of the Securities and Exchange Commission to furnish us with copies of all Section 16(a) reports they file.

To our knowledge, based solely on our review of the copies of the Section 16(a) reports furnished to us and a review of our shareholders of record for the fiscal year ended September
30, 2008, there were no filing delinquencies.

Code of Ethics

We have not yet prepared a written code of ethics and employment standards. We have only recently commenced operations. We expect to implement a Code of Ethics during the current
fiscal year.

Corporate Governance; Audit Committee Financial Expert

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Nominating Committee

We currently do not have a nominating committee. Our Board as a whole acts as our nominating committee.

Audit Committee

As we currently do not have an audit committee financial expert or an independent audit committee expert due to the fact that our Board currently does not have an independent audit committee. Our Board currently has only one (1) independent member, and thus, does not have the ability to create a proper independent audit committee.

Presently our Board is performing the duties that would normally be performed by an audit committee. We intend to form a separate audit committee, and are seeking potential independent directors. We are seeking experienced business people and plan to appoint an individual qualified as an audit committee financial expert.



|ITEM 10. EXECUTIVE COMPENSATION.
|--------------------------------

Our executive officers have not received any compensation since the date of our incorporation, and we did not accrue any compensation. There are no securities authorized for issuance under any equity compensation plan, or any options, warrants, or rights to purchase our common stock.

Compensation of Directors

We do not compensate our directors for their time spent on our behalf, but they are entitled to receive reimbursement for all out of pocket expenses incurred for attendance at our Board of Directors meetings.

Pension and Retirement Plans

Currently, we do not offer any annuity, pension or retirement benefits to be paid to any of our officers, directors or employees, in the event of retirement. There are also no compensatory plans or arrangements with respect to any individual named above which results or will result from the resignation, retirement or any other termination of employment with us, or from a change in our control.

Employment Agreements

We do not have written employment agreements.

|ITEM 11. |  | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
|-------- |  | --------------------------------------------------------------
|         |  | AND RELATED STOCKHOLDER MATTERS                               

MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

Securities Authorized for Issuance Under Equity Compensation Plans

There are no securities authorized for issuance under any equity compensation plan, or any options, warrants, or rights to purchase our common stock

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth certain information, as of September 30, 2008 with respect to any person (including any group, as that term is used in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the Exchange Act)) who is known us to be the beneficial owner of more than five (5) percent of any class of our voting securities, and as to those shares of our equity securities beneficially owned by each of our directors, our

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executive officers and all of our directors and executive officers and all of our directors and executive officers as a group. Unless otherwise specified in the table below, such information, other than information with respect to our directors and officers, is based on a review of statements filed, with the Securities and Exchange commission (the Commission) pursuant to Sections 13 (d), 13 (f), and 13 (g) of the Exchange Act with respect to our common stock. As of September 30, 2008, there were 4,440,000 shares of our common stock outstanding.

The number of shares of common stock beneficially owned by each person is determined under the rules of the Commission and the information is not necessarily indicative of beneficial ownership for any other purpose. Under such rules, beneficial ownership includes any shares as to which such person has sole or shared voting power or investment power and also any shares which the individual has the right to acquire within sixty (60) days after the date hereof, through the exercise of any stock option, warrant or other right. Unless otherwise indicated, each person has sole investment and voting power (or shares such power with his or her spouse) with respect to the shares set forth in the following table. The inclusion herein of any shares deemed beneficially owned does not constitute an admission of beneficial ownership of those shares.

The table also shows the number of shares beneficially owned as of September 30, 2008 by each of the individual directors and executive officers and by all directors and executive officers as a group.

|Title of |  |                                                             |  | Amount and Nature of |  | Percent  
|-------- |  | ----------------------------------------------------------- |  | -------------------- |  | ---------
|Class    |  | Name and Address of Beneficial Owner                        |  | Beneficial Ownership |  | of Class1
|         |  |                                                             |  |                      |  |          
|Common   |  | Douglas Dewar                                               |  |                      |  |          
|         |  | Director, President                                         |  |                      |  |          
|         |  | 240, 222 Baseline Road, #209                                |  | 1,500,000            |  | 33.78%   
|         |  | Sherwood Park, AB, T8H 1S8                                  |  |                      |  |          
|         |  |                                                             |  |                      |  |          
|Common   |  | Barbara Ceretzke                                            |  |                      |  |          
|         |  | Secretary/Treasurer, Director,                              |  |                      |  |          
|         |  | 4430  33 Street                                            |  | 2,000,000            |  | 45.05%   
|         |  | Edmonton, Alberta, T6T 1E9                                  |  |                      |  |          
|         |  |                                                             |  |                      |  |          
|-        |  | Sharon Dusza                                                |  |                      |  |          
|         |  | Director                                                    |  |                      |  |          
|         |  | 8019 - 15 A Avenue                                          |  | -                    |  | -        
|         |  | Edmonton, Alberta, T6K 4E3                                  |  |                      |  |          
|         |  |                                                             |  |                      |  |          
|Common   |  | Significant shareholders, directors and officers as a group |  |                      |  |          
|         |  | (3)                                                         |  | 3,500,000            |  | 78.83%   
|         |  |                                                             |  |                      |  |          

(1)Percent of Ownership is calculated in accordance with the Securities and Exchange Commissions Rule 13(d) 13(d)(1)

Changes in Control

We have not entered into any arrangements which may result in a change in our control

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Transactions With Related Persons

Other than the stock transactions disclosed below, we have not entered into any transactions in which any of our directors, executive officers, or affiliates, including any member of an immediate family that had or are to have a direct or indirect material interest.

We have sold securities within the past three (3) years without registering the securities under the Securities Act of 1933 on two (2) separate occasions.

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On April 4, 2006, Douglas Dewar, who is the founder of our company and a member of our Board purchased by subscription 1,500,000 shares of common stock at a price of $0.01 per share for a total of $15,000.

The other officers and directors, namely, Mr. James Davies and Mr. Robert Doolan, each purchased 1,000,000 shares for a total of 2,000,000 shares of our common stock on September 25, 2006, in a private offering price of $0.01 per share for a total of $20,000.

All of the above noted securities were sold in reliance on Regulation D, Section 504 of the Securities Act of 1933. All shareholders are subject to Rule 144 of the Securities Act of 1933 with respect to resale. We relied the exemption from registration since we were not subject to the reporting requirements of Section 13 or 15(d) of the Securities Act of 1933, not an investment company, we had a specific business plan at the time we sold the securities, we are not a blank check company, as that term is defined in Rule 419(a)(2) of Regulation C or Rule 504 (a)(3) of Regulation D of the Securities Act of 1933, and the aggregate offering price was less that $1,000,000. All of the subscribers are our directors and/or officers.



|ParentsNonePromoters and Control PersonsNone.
|---------------------------------------------



|ITEM 13. EXHIBITS
|-----------------



|Exhibit Index
|-------------

|3.1  | Articles of Incorporation*                                                                                                                       
|---- | -------------------------------------------------------------------------------------------------------------------------------------------------
|    
|3.2  | By-laws*                                                                                                                                         
|    
|31.1 | Section 302 Certification  Chief Executive Officer                                                                                              
|    
|31.2 | Section 302 Certification  Chief Financial Officer                                                                                              
|    
|32.1 | Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002  Chief Executive Officer.
|    
|32.2 | Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002  Chief Financial Officer.
|    

*Incorporated by reference to our Registration Statement on Form SB-2 file number 333-140322, filed on January 30, 2007.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

Audit and Audit Related Fees.

The aggregate fees billed by our auditors, for audit and audit related fees during the year ended September 30, 2008, was $14,260, and $11,875 for the year ended September 30, 2007.

Tax Fees.

We incurred nil fees to auditors for tax compliance, tax advice or tax compliance services during the fiscal year ended September 30, 2008 and 2007.

All Other Fees.

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We did not incur any other fees billed by auditors for services rendered to us other than the services covered in "Audit Fees" for the fiscal years ended September 30, 2008 and
2007.

The Board has considered whether the provision of non-audit services is compatible with maintaining the principal accountant's independence.

Since there is no audit committee, there are no audit committee pre-approval policies and procedures.

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|SIGNATURES
|----------

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on this 9thday of January, 2009.



|NORTHWEST CHARIOTS INCORPORATED
|-------------------------------



|Date: January 9, 2009
|---------------------

By:/s/ Douglas Dewar

Name: Douglas Dewar

Title: President/Chief Executive Officer, principal executive officer



|Date: January 9, 2009
|---------------------

By:/s/ Barbara Ceretzke

Name: Barbara Ceretzke

Title: Chief Financial Officer, principal financial officer and principal accounting officer

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