In November 1995, the duo pledged to dissolve the K Foundation and to refrain from public discussion of the burning for a period of 23 years.

It compiles stills from the film, accounts of events and viewer reactions, and an image of the brick that was manufactured from the fire's ashes.

[1] They had also enjoyed considerable success with their album The White Room[2] and a number one hit single – "Doctorin' the Tardis" – as The Timelords.

[3] In February 1992, The KLF staged an incendiary performance at the BRIT Awards,[4][5] and retired from the music industry shortly thereafter in typically enigmatic fashion.

A curt fax from [...] the gallery curator informed Casey that the K Foundation's exhibition of money had been done before and more interestingly",[12] 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.

[12] An exhibition at Kilmainham Jail in Dublin was then considered, but no sooner had a provisional August date been set for it than the duo changed their minds yet again.

Jim Reid, a freelance journalist and the only independent witness to the burning, reported the various schemes the K Foundation considered.

A second idea was to hire Bankside Power Station, "the future site of the Tate Gallery extension and an imposing building downstream from the South Bank", as a bonfire venue.

In typical KLF 'guerrilla communication' style, "posters were to appear on 15 August bearing the legend 'The 1995 K Foundation Bequest to the Nation', under which would have been an image of Nailed to the Wall on an easel and two flame-throwers lying on the floor.

On 22 August, Reid, Drummond, Cauty and Gimpo touched down at Islay Airport in the Inner Hebrides and took a ferry to the island of Jura, previously the scene of a wicker man burning ceremony by The KLF.

The burning was witnessed by Reid, who subsequently wrote an article about the act for The Observer, and it was filmed on a Hi-8 video camera by collaborator Gimpo.

[12] Watch the K Foundation Burn a Million Quid starts with a short description of the event, and then consists of Drummond and Cauty throwing £50 notes onto the fire.

When the money ignites, Drummond starts to laugh as he and Cauty stand above a small fireplace throwing £50 notes on to the fire.

Cauty constantly stokes the blaze with a large wooden plank and at one stage burns his hand on a flaming note.

"You can't simply decide you're going to become an artist," said one gallery owner haughtily, which left you wondering how else the vocation might operate.

[13][19][20] A week later, the pair travelled as guests of alternative radio station B92 to Belgrade, where the post-screening discussion was titled "Is it a crime against humanity?"

[26] Despite the K Foundation's reported moratorium, further national screenings of the film organised by Chris Brook took place as planned.

It was originally planned for a car park, but freezing conditions and snow forced a rethink and the screening was moved indoors, to the basement of the nearby Seven Stars pub.

Hundreds of people crammed in to watch the screening, which was eventually abandoned partway through due to the cramped conditions.

[33] This event was pictured on the back sleeve of their second album, Who Killed The JAMs?, and celebrated in the song "Burn the Bastards".

[34] During the 1991 summer solstice, they burnt a 60 feet (18 m) wicker man on Jura,[35] as chronicled in the KLF movie The Rites of Mu.

[38] The Times followed with essentially the same story on 4 October 1994, adding that the burning "[had] left many on the island bewildered, incredulous and angry".

An October 1995 feature quoted Kevin Hull, the BBC documentary maker responsible for the Omnibus item, saying he had found "the boys rather depressed, and almost in a state of shock".

[24] A piece in The Times on 5 November 1995, coinciding with the Glasgow screenings, reported that the K Foundation had no solid reason for burning the money or view of what, if anything, the act represented, but concluded "The K Foundation may not have changed or challenged much but they have certainly provoked thousands to question and analyse the power of money and the responsibilities of those who possess it.

The general view remains that the K Foundation's preoccupation with money, though undoubtedly sincere, simply isn't very original.

Although they didn't blow their entire life's savings along the way, other artists, notably Yves Klein and Chris Burden, have been here before.

"[40] In the following years, the burning was mentioned regularly in the press, with Drummond and Cauty often relegated to a cultural status of "the men who burnt a million quid".

'I knew it was real,' a long-time friend and associate of his group The KLF tells me, 'because afterwards, Jimmy and Bill looked so harrowed and haunted.

[45] Initially, Drummond was unrepentant, telling The Observer in 2000 that he couldn't imagine ever feeling regret unless his child was ill and only "an expensive clinic" could cure him.