Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Dec. 19, 2023 | Mar. 31, 2023 | |
Document Information Line Items | |||
Entity Registrant Name | PISMO COAST VILLAGE, INC. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Common Stock, Shares Outstanding | 1,774 | ||
Entity Public Float | $ 88,700,000 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0000216877 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Sep. 30, 2023 | ||
Document Fiscal Year Focus | 2023 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 0-8463 | ||
Entity Incorporation, State or Country Code | CA | ||
Entity Tax Identification Number | 95-2990441 | ||
Entity Address, Address Line One | 165 South Dolliver Street | ||
Entity Address, City or Town | Pismo Beach | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 93449 | ||
City Area Code | 805 | ||
Local Phone Number | 773-5649 | ||
Entity Interactive Data Current | Yes | ||
Document Financial Statement Error Correction [Flag] | false | ||
Auditor Name | BROWN ARMSTRONGACCOUNTANCY CORPORATION | ||
Auditor Firm ID | 237 | ||
Auditor Location | Bakersfield, California |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Current assets | ||
Cash and cash equivalents | $ 884,943 | $ 1,019,465 |
Cash Reserved for Capital Improvements and Deferred Maintenance | 8,407,996 | 9,566,367 |
Investments | 1,042,140 | |
Accounts receivable | 55,528 | 49,115 |
Inventories | 120,901 | 216,842 |
Prepaid income taxes | 395,800 | 323,900 |
Prepaid expenses | 333,945 | 342,211 |
Total current assets | 11,241,253 | 11,517,900 |
Other Assets | ||
Property and equipment, net of accumulated depreciation and amortization | 16,011,915 | 15,031,100 |
Total assets | 27,253,168 | 26,549,000 |
Current liabilities | ||
Accounts payable and accrued liabilities | 246,491 | 265,444 |
Accrued salaries and vacation | 309,921 | 432,187 |
Rental deposits | 2,084,012 | 2,268,627 |
Building security deposits | 25,000 | |
Current portion of finance lease obligations | 63,978 | 52,256 |
Total current liabilities | 2,729,402 | 3,018,514 |
Long-term liabilities | ||
Deferred taxes | 439,400 | 424,900 |
Finance lease obligations, net of current portion | 59,885 | 104,382 |
Total liabilities | 3,228,687 | 3,547,796 |
Stockholders' equity | ||
Common stock - no par value, 1,800 shares issued, 1,774 shares outstanding | 5,566,130 | 5,566,130 |
Retained earnings | 18,423,537 | 17,435,074 |
Accumulated other comprehensive income | 34,814 | |
Total stockholders' equity | 24,024,481 | 23,001,204 |
Total liabilities and stockholders' equity | $ 27,253,168 | $ 26,549,000 |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) - $ / shares | Sep. 30, 2023 | Sep. 30, 2022 |
Statement of Financial Position [Abstract] | ||
Common stock – no par value (in Dollars per share) | ||
Common stock, shares Issued | 1,800 | 1,800 |
Common stock, shares outstanding | 1,774 | 1,774 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Income | ||
Income | $ 9,750,627 | $ 10,336,533 |
Costs and expenses | ||
Operating expenses | 7,552,851 | 6,737,999 |
Cost of goods sold | 544,989 | 639,434 |
Depreciation and amortization | 460,132 | 479,314 |
Total costs and expenses | 8,557,972 | 7,856,747 |
Income from operations | 1,192,655 | 2,479,786 |
Other income (expense) | ||
Interest and dividend income | 143,440 | 14,822 |
Interest expense | (14,532) | (11,849) |
Employee Retention Credit Income | 245,280 | |
Gain (loss) on disposal of fixed assets | 9,500 | |
Total other income (expense) | 138,408 | 248,253 |
Income before provision for income tax | 1,331,063 | 2,728,039 |
Provision for income tax | 342,600 | 724,700 |
Net income | $ 988,463 | $ 2,003,339 |
Net income per share (in Dollars per share) | $ 557.19 | $ 1,129.28 |
Total comprehensive income per share (in Shares) | 557.19 | 1,129.28 |
Resort Operations [Member] | ||
Income | ||
Income | $ 8,728,725 | $ 9,021,458 |
Retail Operations [Member] | ||
Income | ||
Income | 955,343 | 1,315,075 |
Operating Lease Income [Member] | ||
Income | ||
Income | $ 66,559 |
STATEMENT OF CHANGES IN STOCKHO
STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Sep. 30, 2020 | $ 5,569,268 | $ 13,057,262 | $ 18,626,530 | |
Balance (in Shares) at Sep. 30, 2020 | 1,775 | |||
Net Income | 2,413,335 | 2,413,335 | ||
Balance at Sep. 30, 2021 | $ 5,569,268 | 15,470,597 | 21,039,865 | |
Balance (in Shares) at Sep. 30, 2021 | 1,775 | |||
Net Income | 2,003,339 | 2,003,339 | ||
Repurchase of common stock | $ (3,138) | (38,862) | (42,000) | |
Repurchase of common stock (in Shares) | (1) | |||
Balance at Sep. 30, 2022 | $ 5,566,130 | 17,435,074 | 23,001,204 | |
Balance (in Shares) at Sep. 30, 2022 | 1,774 | |||
Net Income | 988,463 | 988,463 | ||
Other comprehensive income | 34,814 | 34,814 | ||
Balance at Sep. 30, 2023 | $ 5,566,130 | $ 18,423,537 | $ 34,814 | $ 24,024,481 |
Balance (in Shares) at Sep. 30, 2023 | 1,774 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities | ||
Net Income | $ 988,463 | $ 2,003,339 |
Adjustments to reconcile net income to net Cash provided by operating activities: | ||
Depreciation and amortization | 460,132 | 479,314 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (6,413) | (12,351) |
Inventory | 95,941 | (16,735) |
Prepaid income taxes | (71,900) | (323,900) |
Prepaid expenses | 8,266 | (325,554) |
Accounts payable and accrued liabilities | (18,953) | (54,132) |
Accrued salaries and vacation | (122,266) | 14,643 |
Rental deposits | (184,615) | 23,779 |
Building security deposits | 25,000 | |
Income taxes payable | (60,000) | |
Long term deferred income taxes | 14,500 | (18,400) |
Total adjustments | 199,692 | (293,336) |
Net cash provided by operating activities | 1,188,155 | 1,710,003 |
Cash flows from investing activities | ||
Capital expenditures | (1,412,193) | |
Purchase of Investments | (1,007,326) | (247,870) |
Net cash used investing activities | (2,419,519) | (247,870) |
Cash flows from financing activities | ||
Repurchase of capital stock | (42,000) | |
Principal payments on finance lease obligations | (61,529) | (60,757) |
Net cash used in financing activities | (61,529) | (102,757) |
Net (decrease)increase in cash and cash equivalents | (1,292,893) | 1,359,376 |
Cash and cash equivalents - beginning of year | 10,585,832 | 9,226,456 |
Cash and cash equivalent - end of year | 9,292,939 | 10,585,832 |
Reconciliation of Cash and Cash Equivalents Per Balance Sheet | ||
Cash and equivalents | 884,943 | 1,019,465 |
Cash reserved for capital improvements | 8,407,996 | 9,566,367 |
Cash and cash equivalents per statement of cash flows | 9,292,939 | 10,585,832 |
Schedule of payments of interest and taxes | ||
Cash paid for income tax | 400,000 | 1,127,000 |
Cash paid for interest | 14,532 | $ 11,849 |
Supplemental schedule of non-cash activities | ||
Net of unrealized holdings gain on available-for-sale Investment securities | $ 34,814 |
Nature of Business
Nature of Business | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Nature of Operations [Text Block] | Note 1: Nature of Business Pismo |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Note Policies Revenue Customers The Revenue Revenue Recognition Other Assets and Deferred Costs-Contracts with Customers Revenue primarily consists of recreational camping space rentals, revenue from recreational vehicle storage space, food Sales taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue- producing transaction, that are collected by the Company from a customer, are excluded from revenue. Performance Obligations For performance obligations related to the Company accommodations and other ancillary goods and services, control transfers The Disaggregation Revenue Revenue from performance obligations satisfied at a point in time consists of sales related to the Company accommodations and other ancillary goods and services at the location in Pismo Beach, California. Customer Deposits The Company does not recognize revenue when a customer prepays for resort accommodation. Cash Equivalents For equivalents. Cash Maintenance The Company keeps separate funds reserved for capital improvements and deferred maintenance. Historically, the Company Allowance Accounts It is the policy of management to review the outstanding accounts receivable at year-end, as well as historical bad debt Inventories Inventories Property Equipment All . Depreciation rates lives: Building and resort improvements 5 to 40 years Furniture, fixtures, equipment, and leasehold improvements 5 to 31.5 years Transportation equipment 5 to 10 years Earnings Per Share The earnings Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States Advertising The Company s was $70,709 s were Concentration of Credit Risk At September threshold. Income Taxes The Company uses the asset-liability method of computing deferred taxes in accordance with Accounting Standards Codification FASB ASC 740 also requires, among other things, the recognition and measurement of uncertain tax positions based on a "more likely than not" (likelihood greater than 50%) approach. Investments Investments in securities have been classified in the balance sheet, according to management’s intent, as securities available-for-sale under the provisions of Financial Accounting Standards Board (FASB) Accounting Standards modification (ASC) Topic 320 Investments – Debt and Equity Securities. Available-for-sale securities consist of investment securities not classified as trading securities nor as held-to-maturity securities. Unrealized holding gains and losses, net of deferred taxes, available-for-sale securities are reported as a net amount in a separate component of stockholders’ equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specification method. Fair Measurements The Company records its financial assets and liabilities at fair value in accordance with the Fair Value Measurements and Disclosures Topic of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) (the Topic). This Topic provides a framework for measuring fair value, clarifies the definition of fair value and expands disclosures Level Level 2: include: Quoted prices markets. Quoted prices markets. Inputs other liability. Inputs that If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The following is a description of the valuation methodologies used for assets measured at fair value: Investments: Investments in US Treasury Bills are recorded at fair value based upon quoted market prices using Level 1 input. The hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. At September 30, 2023, the following sets forth by level, within the fair value hierarchy, the Company’s assets at fair value: September 30, 2023 Level 1 Level 2 Level 3 Investment in US Treasury Bill $ 1,042,140 $ - $ - Total assets at fair value $ 1,042,140 Leases On October 1, 2022, the Company adopted Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), using the optional transition method, which allowed the application of the new standard at the adoption date and the recognition of a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjusting previously reported results. As a result, the Company’s financial statements for periods prior to September 30, 2022, have not been revised to reflect the new lease accounting guidance. In adopting ASC Topic 842, the Company elected the package of practical expedients permitted under the transition guidance within the new standard. This package allowed the Company to carry forward historical lease classifications, to not reassess whether any expired or existing contracts are or contain leases, and to not reassess the accounting for initial direct costs for any existing leases. The Company determines if an arrangement is a lease at inception. Operating leases are included in the operating lease right-of-use (ROU) assets, current liabilities, and long-term operating lease liabilities in the balance sheet. Finance leases are included in property and equipment, current liabilities, and long-term finance lease liabilities in the balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. For determining the present value of lease payments, the Company uses the discount rate implicit in the lease when readily determinable. As most of the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate in determining the present value of lease payments that approximates the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term. At adoption, the ROU asset also includes any lease payment made and excludes lease incentives and initial direct costs. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company evaluates contracts to determine if they contain a lease at inception. The Company’s material leases primarily The Company |
Property and Equipment
Property and Equipment | 12 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3: Property and Equipment At September following: 2023 2022 Land $ 11,608,707 $ 10,394,747 Building and resort improvements 13,262,158 13,174,590 Furniture, fixtures, equipment, and leasehold improvements 895,394 870,440 Transportation equipment 979,354 959,978 Construction in progress 149,714 87,589 26,895,327 25,487,344 Less accumulated depreciation and amortization (10,883,412) (10,456,244) Property and Equipment, Net $ 16,011,915 $ 15,031,100 Depreciation and amortization expenses were $460,132 and $479,314 for the years ended September 30, 2023, and 2022, respectively. At September 30, 2023, and 2022 the cost of assets under finance lease was $434,573 and $405,819, respectively, and related accumulated amortization was $385,311 and $331,071, respectively. Amortization expenses on assets under finance lease was $54,240 and $63,678 for the years ended September 30, 2023, and 2022, respectively. |
Line of Credit
Line of Credit | 12 Months Ended |
Sep. 30, 2023 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 4: Line of Credit The Company has a revolving line of credit with Pacific Premier Bank (formerly Heritage Oaks Bank) for $500,000, expiring April 1, 2024. There was no outstanding balance on the line of credit as of September 30, 2023, or 2022. |
Leases
Leases | 12 Months Ended |
Sep. 30, 2023 | |
Disclosure Text Block [Abstract] | |
Lessee, Finance Leases [Text Block] | Note 5: Leases – Lessee Disclosure Subsequent to the Adoption of the New Lease Accounting Standard (ASU 2016-02). At September 30, 2023, and 2022, finance lease obligations consisted of the following: 2023 2022 A 2016 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,257, including interest at 4.532% per annum, through December 2024. $ 19,483 $ 2,837 A 2018 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,154, including interest at 4.644% per annum, through August 2024. 11,366 24,358 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,162, including interest at 4.181% per annum, through March 2025. 19,525 32,364 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.101% per annum, through September 2025. 27,044 39,482 A 2020 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,166, including interest at 5.406% per annum, through May 2027. 46,445 57,597 $ 123,863 156,638 Less current portion (63,978) (52,256) Total non-current finance lease obligations $ 59,885 104,382 The following table is a summary of the components of the net lease cost for the years ended September 30, 2023, and 2022, respectively. 2023 2022 Finance lease cost Amortization of ROU assets $ 54,240 $ 63,678 Interest on lease liabilities 4,956 7,589 Total finance lease cost $ 59,196 $ 71,267 Supplemental cash follows. 2023 2022 Cash paid for amounts included in the measurement of Financing cash flows paid for principal portion of $ 61,529 $ 60,757 Supplemental balance follows. September 30 September 30 2023 2022 Finance leases: Property and equipment, gross $ 434,573 $ 405,819 Accumulated amortization (385,311) (331,071) Property and equipment net $ 49,262 $ 74,748 Current portion of long-term liabilities $ 63,978 $ 52,256 Long-term liabilities, less current portion 59,885 104,382 Total finance liabilities $ 123,863 $ 156,638 Weighted average remaining lease term Finance leases 1.87 years 3.16 years Weighted average discount rate Finance leases 4.69% 4.69% The following 2023. For the Twelve Months Ending September 30 Finance Lease 2024 $ 68,458 2025 39,643 2026 13,992 2027 9,328 2028 - Thereafter - Total minimum lease payments 131,421 Less amount representing interest (7,558) Present value of lease payments 123,863 Less current portion (63,978) Finance lease obligations, net of current portion $ 59,885 |
Leases - Lessor
Leases - Lessor | 12 Months Ended |
Sep. 30, 2023 | |
Disclosure Text Block [Abstract] | |
Lessor, Operating Leases [Text Block] | Note 6: Leases – Lessor On April The following table summarizes the future operating lease income For the Twelve Months Ending September 30 2024 $ 12,536 2025 12,536 2026 12,536 2027 12,536 2028 12,536 Thereafter 75,180 $ 137,860 On May 1, 2023, the Company entered into an operating lease agreement for commercial building space at 180 S. Dolliver -year The following table summarizes the future operating lease income For the Twelve Months Ending 2024 $ 36,900 2025 36,900 2026 36,900 2027 36,900 2028 36,900 Thereafter 169,125 $ 353,625 On May 1, 2023, the Company entered into an operating lease agreement for commercial building space at 2096 Nipomo St., -year 2023. The following table summarizes the future operating lease income. For the Twelve Months Ending September 30 2024 $ 74,400 2025 74,400 2026 74,400 2027 74,400 2028 74,400 Thereafter 341,000 $ 713,000 |
Common Stock
Common Stock | 12 Months Ended |
Sep. 30, 2023 | |
Stockholders' Equity Note [Abstract] | |
Equity [Text Block] | Note 7: Common Stock Each share of stock is intended to provide the shareholder with free use of the resort for a maximum A shareholder is entitled to a pro rata share of any dividends as well as a pro rata share of the assets of the Company in the event of its liquidation or sale. |
IncomeTaxes
IncomeTaxes | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 8: Income Taxes The provisions follows: 2023 2022 Current: Federal $ 229,500 $ 524,500 State 98,600 218,500 $ 328,100 $ 743,000 Deferred: Federal $ 4,600 $ (12,900) State 9,900 (5,400) 14,500 (18,300) Provision for income taxes $ 342,600 $ 724,700 The Company uses the asset-liability method of computing deferred taxes in accordance with FASB ASC Topic 740. The At September following: 2023 2022 Deferred tax assets (liabilities): Federal $ (382,400) $ (377,800) State (57,000) (47,100) Net deferred income taxes $ (439,400) $ (424,900) Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported At September differences: 2023 2022 Depreciation $ (478,800) $ (525,400) Unrealized gain on investments - - Total gross deferred tax (478,800) (525,400) Vacation accrual 700 34,400 Federal benefit of state taxes 38,700 66,100 Total gross deferred tax assets 39,400 100,500 $ (439,400) $ (424,900) There were no net operating loss or tax credit carryforwards for the year ended September 30, 2023, or 2022 for federal or state. |
Employee Retirement Plans
Employee Retirement Plans | 12 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
Retirement Benefits [Text Block] | Note 9: Employee Retirement Plans The Company is the sponsor of a 401(k)-profit sharing pension plan, which covers substantially all full-time employees. Employer contributions are discretionary and are determined on an annual basis. The Company’s matching portion of the 401(k) safe harbor plan was $93,769 and $73,679 for the years ended September 30, 2023, and 2022, respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 10: Subsequent Events Events subsequent to September 30, 2023, have been evaluated through December 13, 2023, which is the date the financial statements were available to be issued. Management did not identify any subsequent events that required disclosure. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Revenue from Contract with Customer [Policy Text Block] | Revenue Customers The Revenue Revenue Recognition Other Assets and Deferred Costs-Contracts with Customers Revenue primarily consists of recreational camping space rentals, revenue from recreational vehicle storage space, food Sales taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue- producing transaction, that are collected by the Company from a customer, are excluded from revenue. Performance Obligations For performance obligations related to the Company accommodations and other ancillary goods and services, control transfers The Disaggregation Revenue Revenue from performance obligations satisfied at a point in time consists of sales related to the Company accommodations and other ancillary goods and services at the location in Pismo Beach, California. Customer Deposits The Company does not recognize revenue when a customer prepays for resort accommodation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents For equivalents. |
CashReservedFor Capital Improvements And Deferred Maintenance PolicyText Block | Cash Maintenance The Company keeps separate funds reserved for capital improvements and deferred maintenance. Historically, the Company |
Receivable [Policy Text Block] | Allowance Accounts It is the policy of management to review the outstanding accounts receivable at year-end, as well as historical bad debt |
Inventory, Policy [Policy Text Block] | Inventories Inventories |
Property, Plant and Equipment, Policy [Policy Text Block] | Property Equipment All . Depreciation rates lives: Building and resort improvements 5 to 40 years Furniture, fixtures, equipment, and leasehold improvements 5 to 31.5 years Transportation equipment 5 to 10 years |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share The earnings |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States |
Advertising Cost [Policy Text Block] | Advertising The Company s was $70,709 s were |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk At September threshold. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company uses the asset-liability method of computing deferred taxes in accordance with Accounting Standards Codification FASB ASC 740 also requires, among other things, the recognition and measurement of uncertain tax positions based on a "more likely than not" (likelihood greater than 50%) approach. |
Investment, Policy [Policy Text Block] | Investments Investments in securities have been classified in the balance sheet, according to management’s intent, as securities available-for-sale under the provisions of Financial Accounting Standards Board (FASB) Accounting Standards modification (ASC) Topic 320 Investments – Debt and Equity Securities. Available-for-sale securities consist of investment securities not classified as trading securities nor as held-to-maturity securities. Unrealized holding gains and losses, net of deferred taxes, available-for-sale securities are reported as a net amount in a separate component of stockholders’ equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specification method. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Measurements The Company records its financial assets and liabilities at fair value in accordance with the Fair Value Measurements and Disclosures Topic of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) (the Topic). This Topic provides a framework for measuring fair value, clarifies the definition of fair value and expands disclosures Level Level 2: include: Quoted prices markets. Quoted prices markets. Inputs other liability. Inputs that If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The following is a description of the valuation methodologies used for assets measured at fair value: Investments: Investments in US Treasury Bills are recorded at fair value based upon quoted market prices using Level 1 input. The hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. At September 30, 2023, the following sets forth by level, within the fair value hierarchy, the Company’s assets at fair value: September 30, 2023 Level 1 Level 2 Level 3 Investment in US Treasury Bill $ 1,042,140 $ - $ - Total assets at fair value $ 1,042,140 |
Lessee, Leases [Policy Text Block] | Leases On October 1, 2022, the Company adopted Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), using the optional transition method, which allowed the application of the new standard at the adoption date and the recognition of a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjusting previously reported results. As a result, the Company’s financial statements for periods prior to September 30, 2022, have not been revised to reflect the new lease accounting guidance. In adopting ASC Topic 842, the Company elected the package of practical expedients permitted under the transition guidance within the new standard. This package allowed the Company to carry forward historical lease classifications, to not reassess whether any expired or existing contracts are or contain leases, and to not reassess the accounting for initial direct costs for any existing leases. The Company determines if an arrangement is a lease at inception. Operating leases are included in the operating lease right-of-use (ROU) assets, current liabilities, and long-term operating lease liabilities in the balance sheet. Finance leases are included in property and equipment, current liabilities, and long-term finance lease liabilities in the balance sheet. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. For determining the present value of lease payments, the Company uses the discount rate implicit in the lease when readily determinable. As most of the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate in determining the present value of lease payments that approximates the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term. At adoption, the ROU asset also includes any lease payment made and excludes lease incentives and initial direct costs. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company evaluates contracts to determine if they contain a lease at inception. The Company’s material leases primarily The Company |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Schedule Of Property Plant And Equipment Useful Life [TableText Block] | Building and resort improvements 5 to 40 years Furniture, fixtures, equipment, and leasehold improvements 5 to 31.5 years Transportation equipment 5 to 10 years |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2023 Level 1 Level 2 Level 3 Investment in US Treasury Bill $ 1,042,140 $ - $ - Total assets at fair value $ 1,042,140 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | 2023 2022 Land $ 11,608,707 $ 10,394,747 Building and resort improvements 13,262,158 13,174,590 Furniture, fixtures, equipment, and leasehold improvements 895,394 870,440 Transportation equipment 979,354 959,978 Construction in progress 149,714 87,589 26,895,327 25,487,344 Less accumulated depreciation and amortization (10,883,412) (10,456,244) Property and Equipment, Net $ 16,011,915 $ 15,031,100 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Disclosure Text Block [Abstract] | |
Schedule Of Finance Lease Obligations [Table Text Block] | 2023 2022 A 2016 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,257, including interest at 4.532% per annum, through December 2024. $ 19,483 $ 2,837 A 2018 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,154, including interest at 4.644% per annum, through August 2024. 11,366 24,358 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,162, including interest at 4.181% per annum, through March 2025. 19,525 32,364 A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.101% per annum, through September 2025. 27,044 39,482 A 2020 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,166, including interest at 5.406% per annum, through May 2027. 46,445 57,597 $ 123,863 156,638 Less current portion (63,978) (52,256) Total non-current finance lease obligations $ 59,885 104,382 |
Lease, Cost [Table Text Block] | 2023 2022 Finance lease cost Amortization of ROU assets $ 54,240 $ 63,678 Interest on lease liabilities 4,956 7,589 Total finance lease cost $ 59,196 $ 71,267 |
Schedule Of Lease Supplemental Cash Flow Information [Table Text Block] | 2023 2022 Cash paid for amounts included in the measurement of Financing cash flows paid for principal portion of $ 61,529 $ 60,757 |
Schedule of Lease Supplemental Balance Sheet Information [Table Text Block] | September 30 September 30 2023 2022 Finance leases: Property and equipment, gross $ 434,573 $ 405,819 Accumulated amortization (385,311) (331,071) Property and equipment net $ 49,262 $ 74,748 Current portion of long-term liabilities $ 63,978 $ 52,256 Long-term liabilities, less current portion 59,885 104,382 Total finance liabilities $ 123,863 $ 156,638 Weighted average remaining lease term Finance leases 1.87 years 3.16 years Weighted average discount rate Finance leases 4.69% 4.69% |
Finance Lease, Liability, to be Paid, Maturity [Table Text Block] | For the Twelve Months Ending September 30 Finance Lease 2024 $ 68,458 2025 39,643 2026 13,992 2027 9,328 2028 - Thereafter - Total minimum lease payments 131,421 Less amount representing interest (7,558) Present value of lease payments 123,863 Less current portion (63,978) Finance lease obligations, net of current portion $ 59,885 |
Leases - Lessor (Tables)
Leases - Lessor (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Operating Lease Santa Maria [Member] | |
Leases - Lessor (Tables) [Line Items] | |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | For the Twelve Months Ending September 30 2024 $ 12,536 2025 12,536 2026 12,536 2027 12,536 2028 12,536 Thereafter 75,180 $ 137,860 |
Operating Lease Dolliver St [Member] | |
Leases - Lessor (Tables) [Line Items] | |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | For the Twelve Months Ending 2024 $ 36,900 2025 36,900 2026 36,900 2027 36,900 2028 36,900 Thereafter 169,125 $ 353,625 |
Operating Lease Nipomo St [Member] | |
Leases - Lessor (Tables) [Line Items] | |
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block] | For the Twelve Months Ending September 30 2024 $ 74,400 2025 74,400 2026 74,400 2027 74,400 2028 74,400 Thereafter 341,000 $ 713,000 |
IncomeTaxes (Tables)
IncomeTaxes (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2023 2022 Current: Federal $ 229,500 $ 524,500 State 98,600 218,500 $ 328,100 $ 743,000 Deferred: Federal $ 4,600 $ (12,900) State 9,900 (5,400) 14,500 (18,300) Provision for income taxes $ 342,600 $ 724,700 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2023 2022 Deferred tax assets (liabilities): Federal $ (382,400) $ (377,800) State (57,000) (47,100) Net deferred income taxes $ (439,400) $ (424,900) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2023 2022 Depreciation $ (478,800) $ (525,400) Unrealized gain on investments - - Total gross deferred tax (478,800) (525,400) Vacation accrual 700 34,400 Federal benefit of state taxes 38,700 66,100 Total gross deferred tax assets 39,400 100,500 $ (439,400) $ (424,900) |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Rental Deposits | $ 2,084,012 | $ 2,268,627 |
Other Cash Equivalents, at Carrying Value | $ 2,511 | 6,089 |
Weighted Average Number of Shares Outstanding, Basic (in Shares) | 1,774 | |
Advertising Expense | $ 70,709 | 58,944 |
Deposits | 417,269 | 552,851 |
Cash, FDIC Insured Amount | 250,000 | |
TOT and TBID [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Accrued Liabilities for Commissions, Expense and Taxes | $ 80,443 | $ 84,860 |
Site Rentals [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Concentration Risk, Percentage | 66% | |
Storage Rentals [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Concentration Risk, Percentage | 15% | |
Spotting [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Concentration Risk, Percentage | 5% | |
Store and Accessory [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Concentration Risk, Percentage | 10% | |
Other Ancillary Goods and Services [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Summary of Significant Accounting Policies (Details) [Line Items] | ||
Concentration Risk, Percentage | 4% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Property and equipment, estimated useful lives | Sep. 30, 2023 |
Building and Resort Improvements [Member] | Minimum [Member] | |
Summary of Significant Accounting Policies (Details) - Property and equipment, estimated useful lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 5 years |
Building and Resort Improvements [Member] | Maximum [Member] | |
Summary of Significant Accounting Policies (Details) - Property and equipment, estimated useful lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 40 years |
Furniture Fixtures Equipment and Leasehold Improvements [Member] | Minimum [Member] | |
Summary of Significant Accounting Policies (Details) - Property and equipment, estimated useful lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 5 years |
Furniture Fixtures Equipment and Leasehold Improvements [Member] | Maximum [Member] | |
Summary of Significant Accounting Policies (Details) - Property and equipment, estimated useful lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 31 years 6 months |
Transportation Equipment [Member] | Minimum [Member] | |
Summary of Significant Accounting Policies (Details) - Property and equipment, estimated useful lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 5 years |
Transportation Equipment [Member] | Maximum [Member] | |
Summary of Significant Accounting Policies (Details) - Property and equipment, estimated useful lives [Line Items] | |
Property, Plant and Equipment, Useful Lives | 10 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Fair Value assets | Sep. 30, 2023 USD ($) |
Fair Value, Inputs, Level 1 [Member] | |
Summary of Significant Accounting Policies (Details) - Fair Value assets [Line Items] | |
Assets at fair value | $ 1,042,140 |
Fair Value, Inputs, Level 1 [Member] | Investments [Member] | |
Summary of Significant Accounting Policies (Details) - Fair Value assets [Line Items] | |
Assets at fair value | 1,042,140 |
Fair Value, Inputs, Level 2 [Member] | |
Summary of Significant Accounting Policies (Details) - Fair Value assets [Line Items] | |
Assets at fair value | |
Fair Value, Inputs, Level 2 [Member] | Investments [Member] | |
Summary of Significant Accounting Policies (Details) - Fair Value assets [Line Items] | |
Assets at fair value | |
Fair Value, Inputs, Level 3 [Member] | |
Summary of Significant Accounting Policies (Details) - Fair Value assets [Line Items] | |
Assets at fair value | |
Fair Value, Inputs, Level 3 [Member] | Investments [Member] | |
Summary of Significant Accounting Policies (Details) - Fair Value assets [Line Items] | |
Assets at fair value |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation, Depletion and Amortization | $ 460,132 | $ 479,314 |
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | 434,573 | 405,819 |
Finance Lease, Right-of-Use Asset, Accumulated Amortization | 385,311 | 331,071 |
Finance Lease, Right-of-Use Asset, Amortization | $ 54,240 | $ 63,678 |
Property and Equipment (Detai_2
Property and Equipment (Details) - Property and Equipment - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Property And Equipment Abstract | ||
Land | $ 11,608,707 | $ 10,394,747 |
Building and resort improvements | 13,262,158 | 13,174,590 |
Furniture, fixtures, equipment and leasehold improvements | 895,394 | 870,440 |
Transportation equipment | 979,354 | 959,978 |
Construction in progress | 149,714 | 87,589 |
Property and Equipment, Gross | 26,895,327 | 25,487,344 |
Less accumulated depreciation | (10,883,412) | (10,456,244) |
Property and Equipment, Net | $ 16,011,915 | $ 15,031,100 |
Line of Credit (Details)
Line of Credit (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Debt Disclosure [Abstract] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 500,000 | |
Line of Credit Facility, Expiration Date | Apr. 01, 2024 | |
Line of Credit Facility, Fair Value of Amount Outstanding | $ 0 | $ 0 |
Leases (Details) - Finance leas
Leases (Details) - Finance lease obligations - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Leases (Details) - Finance lease obligations [Line Items] | ||
Finance lease obligations | $ 123,863 | $ 156,638 |
Less current portion | (63,978) | (52,256) |
Total finance lease obligations | 59,885 | 104,382 |
2016 Lease With Donahue Transportation Corp [Member] | ||
Leases (Details) - Finance lease obligations [Line Items] | ||
Finance lease obligations | 19,483 | 2,837 |
2018 Lease With Donahue Transportation Corp [Member] | ||
Leases (Details) - Finance lease obligations [Line Items] | ||
Finance lease obligations | 11,366 | 24,358 |
2019 Lease With Donahue Transportation Corp Through March 2025 [Member] | ||
Leases (Details) - Finance lease obligations [Line Items] | ||
Finance lease obligations | 19,525 | 32,364 |
2019 Lease With Donahue Transportation Corp Through September 2025 [Member] | ||
Leases (Details) - Finance lease obligations [Line Items] | ||
Finance lease obligations | 27,044 | 39,482 |
2020 Lease With Donahue Transportation Corp Through May 2027 [Member] | ||
Leases (Details) - Finance lease obligations [Line Items] | ||
Finance lease obligations | $ 46,445 | $ 57,597 |
Leases (Details) - Finance le_2
Leases (Details) - Finance lease obligations (Parentheticals) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
2016 Lease With Donahue Transportation Corp [Member] | ||
Leases (Details) - Finance lease obligations (Parentheticals) [Line Items] | ||
Monthly Installments | $ 1,257 | $ 1,257 |
Interest | 4.532% | 4.532% |
2018 Lease With Donahue Transportation Corp [Member] | ||
Leases (Details) - Finance lease obligations (Parentheticals) [Line Items] | ||
Monthly Installments | $ 1,154 | $ 1,154 |
Interest | 4.644% | 4.644% |
2019 Lease With Donahue Transportation Corp Through March 2025 [Member] | ||
Leases (Details) - Finance lease obligations (Parentheticals) [Line Items] | ||
Monthly Installments | $ 1,162 | $ 1,162 |
Interest | 4.181% | 4.181% |
2019 Lease With Donahue Transportation Corp Through September 2025 [Member] | ||
Leases (Details) - Finance lease obligations (Parentheticals) [Line Items] | ||
Monthly Installments | $ 1,151 | $ 1,151 |
Interest | 4.101% | 4.101% |
2020 Lease With Donahue Transportation Corp Through May 2027 [Member] | ||
Leases (Details) - Finance lease obligations (Parentheticals) [Line Items] | ||
Monthly Installments | $ 1,166 | $ 1,166 |
Interest | 5.406% | 5.406% |
Leases (Details) - Finance Le_3
Leases (Details) - Finance Lease Cost - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Finance Lease Cost Abstract | ||
Amortization of ROU assets | $ 54,240 | $ 63,678 |
Interest on lease liabilities | 4,956 | 7,589 |
Total finance lease cost | $ 59,196 | $ 71,267 |
Leases (Details) - Supplemental
Leases (Details) - Supplemental Cash Flow information related to Lease - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Supplemental Cash Flow Information Related To Lease Abstract | ||
Financing cash flows paid for principal portion of finance leases | $ 61,529 | $ 60,757 |
Leases (Details) - Supplement_2
Leases (Details) - Supplemental balance sheet information related to leases - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Supplemental Balance Sheet Information Related To Leases Abstract | ||
Property and equipment, gross | $ 434,573 | $ 405,819 |
Accumulated amortization | (385,311) | (331,071) |
Property and equipment net | 49,262 | 74,748 |
Current portion of long-term liabilities | 63,978 | 52,256 |
Long-term liabilities, less current portion | 59,885 | 104,382 |
Total finance liabilities | $ 123,863 | $ 156,638 |
Weighted average remaining lease term Finance leases | 1 year 10 months 13 days | 3 years 1 month 28 days |
Weighted average discount rate Finance leases | 4.69% | 4.69% |
Leases (Details) - Future minim
Leases (Details) - Future minimum lease payments - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Future Minimum Lease Payments Abstract | ||
2024 | $ 68,458 | |
2025 | 39,643 | |
2026 | 13,992 | |
2027 | 9,328 | |
2028 | ||
Thereafter | ||
Total minimum lease payments | 131,421 | |
Less amount representing interest | (7,558) | |
Present value of lease payments | 123,863 | $ 156,638 |
Less current portion | (63,978) | (52,256) |
Finance lease obligations, net of current portion | $ 59,885 | $ 104,382 |
Leases - Lessor (Details)
Leases - Lessor (Details) | 12 Months Ended |
Sep. 30, 2023 USD ($) | |
Operating Lease Santa Maria [Member] | |
Leases - Lessor (Details) [Line Items] | |
Lessor, Operating Lease, Term of Contract | 10 years |
Lessor, Operating Lease Income (in Dollars) | $ 12,536 |
Increase Decrease In Operating Lease Income (in Dollars) | $ 15,036 |
Operating Lease Santa Maria [Member] | Minimum [Member] | |
Leases - Lessor (Details) [Line Items] | |
Lessor, Operating Lease, Term of Contract | 1 year |
Lessor, Operating Lease, Extended Term of Contract | 6 years |
Operating Lease Santa Maria [Member] | Maximum [Member] | |
Leases - Lessor (Details) [Line Items] | |
Lessor, Operating Lease, Term of Contract | 5 years |
Lessor, Operating Lease, Extended Term of Contract | 10 years |
Operating Lease Dolliver St [Member] | |
Leases - Lessor (Details) [Line Items] | |
Lessor, Operating Lease, Term of Contract | 10 years |
Lessor, Operating Lease Income (in Dollars) | $ 3,075 |
Operating Lease Nipomo St [Member] | |
Leases - Lessor (Details) [Line Items] | |
Lessor, Operating Lease, Term of Contract | 10 years |
Lessor, Operating Lease Income (in Dollars) | $ 6,200 |
Leases - Lessor (Details) - Fut
Leases - Lessor (Details) - Future Operating Lease Income - Operating Lease Santa Maria [Member] | Sep. 30, 2023 USD ($) |
Leases - Lessor (Details) - Future Operating Lease Income [Line Items] | |
2024 | $ 12,536 |
2025 | 12,536 |
2026 | 12,536 |
2027 | 12,536 |
2028 | 12,536 |
Thereafter | 75,180 |
Total minimum lease payments | $ 137,860 |
Leases - Lessor (Details) - F_2
Leases - Lessor (Details) - Future Operating Lease Income - Operating Lease Dolliver St [Member] | Sep. 30, 2023 USD ($) |
Leases - Lessor (Details) - Future Operating Lease Income [Line Items] | |
2024 | $ 36,900 |
2025 | 36,900 |
2026 | 36,900 |
2027 | 36,900 |
2028 | 36,900 |
Thereafter | 169,125 |
Total minimum lease payments | $ 353,625 |
Leases - Lessor (Details) - F_3
Leases - Lessor (Details) - Future Operating Lease Income - Operating Lease Nipomo St [Member] | Sep. 30, 2023 USD ($) |
Leases - Lessor (Details) - Future Operating Lease Income [Line Items] | |
2024 | $ 74,400 |
2025 | 74,400 |
2026 | 74,400 |
2027 | 74,400 |
2028 | 74,400 |
Thereafter | 341,000 |
Total minimum lease payments | $ 713,000 |
Common Stock (Details)
Common Stock (Details) | 12 Months Ended |
Sep. 30, 2023 | |
Stockholders' Equity Note [Abstract] | |
Period Of Free Use Of Resort By Each Shareholder Per Year | 45 days |
IncomeTaxes (Details) - Provisi
IncomeTaxes (Details) - Provision for income taxes - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Current: | ||
Federal | $ 229,500 | $ 524,500 |
State | 98,600 | 218,500 |
Current Tax, Total | 328,100 | 743,000 |
Deferred: | ||
Federal | 4,600 | (12,900) |
State | 9,900 | (5,400) |
Deferred Tax, Total | 14,500 | (18,300) |
Provision for income taxes | $ 342,600 | $ 724,700 |
IncomeTaxes (Details) - Deferre
IncomeTaxes (Details) - Deferred income tax liabilities - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Deferred tax assets (liabilities): | ||
Deferred tax assets (liabilities) | $ (439,400) | $ (424,900) |
Domestic Tax Authority [Member] | ||
Deferred tax assets (liabilities): | ||
Deferred tax assets (liabilities) | (382,400) | (377,800) |
State and Local Jurisdiction [Member] | ||
Deferred tax assets (liabilities): | ||
Deferred tax assets (liabilities) | $ (57,000) | $ (47,100) |
IncomeTaxes (Details) - Defer_2
IncomeTaxes (Details) - Deferred income tax liabilities consisted of the following temporary differences - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Deferred Income Tax Liabilities Consisted Of The Following Temporary Differences Abstract | ||
Depreciation | $ (478,800) | $ (525,400) |
Unrealized gain on investments | ||
Total gross deferred tax liabilities | (478,800) | (525,400) |
Vacation accrual | 700 | 34,400 |
Federal benefit of state taxes | 38,700 | 66,100 |
Total gross deferred tax assets | 39,400 | 100,500 |
Total | $ (439,400) | $ (424,900) |
Employee Retirement Plans (Deta
Employee Retirement Plans (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Retirement Benefits [Abstract] | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 93,769 | $ 73,679 |