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34 | NEUROLOGICAL FOUNDATION 9. FINANCIAL INSTRUMENTS CLASSIFICATION Loans and receivables Held-for- trading Held-to- maturity investments 2020 Financial liabilities at amortised cost Carrying amount Assets Cash and cash equivalents 4,494,063 - - - 4,494,063 Term deposits - - 47,106,574 - 47,106,574 Trade and other receivables 727,744 - - - 727,744 Investments - 13,829,627 12,901,952 - 26,731,579 TOTAL ASSETS 5,221,807 13,829,627 60,008,526 - 79,059,960 Liabilities Trade and other payables 196,099 196,099 Contingent grants and sponsored research 9,311,238 9,311,238 TOTAL LIABILITIES - - - 9,507,337 9,507,337 Loans and receivables Held-for- trading Held-to- maturity investments 2019 Financial liabilities at amortised cost Carrying amount Assets Cash and cash equivalents 8,140,201 - - - 8,140,201 Term deposits - - 44,855,887 - 44,855,887 Trade and other receivables 779,573 - - - 779,573 Prepayments - - - - - Investments - 7,066,112 11,983,945 - 19,050,057 TOTAL ASSETS 8,919,774 7,066,112 56,839,832 - 72,825,718 Liabilities Trade and other payables 231,610 231,610 Contingent grants and sponsored research 9,044,396 9,044,396 TOTAL LIABILITIES - - - 9,276,006 9,276,006 Financial assets held-for-trading were designated as such upon initial recognition. Financial liabilities held-for-trading were designated as such upon initial recognition. 10. OPERATING LEASES Leases as lessee Non-cancellable operating lease rentals are payable as follows: 2020 2019 Less than one year - - Between one and five years - - More than five years - - - -