I did it once, with the greeks.
The faction leader and his son, a unit of spartan hoplites (the one you start with) and a unit of peasants set sail on 2 boats, to Ireland.
As soon as we got there (luckily no pirates attacked us, but we did have some fights with the romans on the way) the Leader and his Spartans captured the city, exterminated it and destroyed every possible building. Then, I disbanded the peasants, which would be the foundation of the new greek empire.
The initial cities I left to rebel, and the generals and their armies got killed in the process.
My coffers where near empty, so I made a blitzkrieg and took all of Britain with the faction Heir, the spartans, and a bunch of mercenaries that I bought with my last gold. As soon as Britain and Ireland where Greek, the money started pouring in again.
Good times.

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