Between 1993 and 1995, they spent this money in a number of ways, including on a series of Situationist-inspired press adverts and extravagant subversions in the art world, focusing in particular on the Turner Prize.

Most notoriously, when their plans to use banknotes as part of a work of art fell through, they burned a million pounds in cash.

[7] Whilst out walking on New Year's Day, 1987, Drummond hit upon an idea for a hip-hop record but, he said, knowing "nothing, personally, about the technology", he needed a collaborator.

[12]Although the duo had deleted their back catalogue in the UK with immediate effect, international licensees retained the contractual right to distribute KLF recordings for a number of years.

The KLF, like any other artist, were also entitled to Performing Right Society royalties every time one of their songs was played on the radio or television.

[7] Music journalist Sarah Champion pointed out (prior to the million pound fire) that, "Being 'in the money' doesn't mean they'll ever be rich.

If they earned £10 million, they'd blow it all by buying Jura or a fleet of K Foundation airships or a Van Gogh to be ceremonially burned.

[18] "When the first in a strange series of full-page ads appeared in The Independent on July 4", said The Face, "people started whispering.

The cultish rhetoric, the unfathomable "Divide and Kreate" slogans, the K symbols, all suggested that the kings of cultural anarchy were back.

The Foundation commissioned more press adverts,[21] instructing readers to "Abandon all art now"[22] and then inviting them to vote for the worst artist of the year.

The joke being that if you were to buy the piece called 10,000 (four piles of mint fifties nailed to a plank of salvaged skirting board) for the asking price of 5,000 (ono), you stand to pocket five grand if you destroy the art and spend the money.

However, even old friend Jayne Casey, director of the Liverpool Festival Trust, was unable to persuade a major gallery to participate.

A curt fax from... the gallery curator, informed Casey that the K Foundation's exhibition of money had been done before and more interestingly",[13] leaving Drummond and Cauty obliged to pursue other options.

The duo considered taking the exhibition across the former Soviet Union by train and on to the United States, but no insurer would touch the project.

[32] The burning was witnessed by an old friend of Drummond's, freelance journalist Jim Reid, who subsequently wrote an article about the ceremony for The Observer.

The film was then toured around the UK over the next few months (plus one showing in Belgrade), with a Q&A session at the end of each screening where members of the audience asked Drummond and Cauty why they burnt the money and also offered their own interpretations.

Because we were worried it would be interpreted by the public as an attempt by The KLF to return to the music world on the back of a humanist gimmick, we decided to hide behind the Foundation.

[40] The song, a drum'n'bass version of the theme tune from The Magnificent Seven with vocal samples from DJ Fleka of Serbian radio station B92, was recorded on 4 September 1995.

Drummond and Cauty announced a moratorium on K Foundation activities in the obscure "The Workshop for Non-linear Architecture" bulletin of November 1995.

[41] The duo had signed a "contract", agreeing to wind up the K Foundation and not to speak about the money burning for a period of 23 years.

This was followed on 8 December 1995 by an advertisement in The Guardian:On 5 November 1995, Jimmy Cauty and Bill Drummond signed a contract with the rest of the world agreeing to end the K Foundation for a period of 23 years.

The K Foundation's fate now lies irrevocably sealed in the imploded remains of a Nissan Bluebird nestling among the rocks 600 feet below Cape Wrath, Scotland.

[42][43]The final act of the K Foundation was distributing a van load of Tennent's Super - a high-alcohol-content lager - to London's street drinkers on Christmas Day 1995.

[45] Drummond and Cauty - reunited as The Justified Ancients of Mu-Mu under the auspices of K2 Plant Hire Ltd - ended the moratorium on 23 August 2017, 23 years after the burning.

[48] In the intervening period, the duo had worked together in 1997, when they attempted to "Fuck the Millennium" as 2K (music)[49] and K2 Plant Hire (conceptual art).