Prince Harry and his wife Meghan's new home in Windsor cost 2.4 million pounds ($3.05 million) to renovate before they moved in, royal accounts showed Tuesday.

Queen Elizabeth II's grandson and his wife moved into Frogmore Cottage on the Windsor Castle estate before the birth of their son Archie on May 6.

The residence, west of London, had been split into five separate homes but was turned back into one property in a six-month refurbishment.

"The property had not been the subject of work for some years and had already been earmarked for renovation," said Michael Stevens, who runs the monarchy's accounts.

"The building was returned to a single residence and outdated infrastructure was replaced to guarantee the long-term future of the property.

"All fixtures and fittings were paid for by their royal highnesses," added Stevens, whose title is Keeper of the Privy Purse.

The cost was revealed as the British monarchy published its accounts for the last financial year.

The monarchy is paid for using a slice of the profits from the land it owns, the rest of which go to the government.

The monarchy's official expenditure in the financial year 2018-19 was 67 million pounds, including souping up Frogmore Cottage, built in 1801.

Under a deal dating back to 1760, profits from the Crown Estate - the monarch's hereditary land and property portfolio - are surrendered to the Treasury, which in return funds the monarchy's running costs through the sovereign grant.

The grant is not income for the royals but pays for the monarch's household staff, property maintenance, official travel, housekeeping and hospitality.

The grant amounts to 15 percent of the Crown Estate profits.

For 10 years starting last year, there is an additional 10 percent to cover the reservicing of Buckingham Palace, the Queen's official residence in London.

The sovereign grant for 2018-19 was 82.2 million pounds - up from 76.1 million  pounds the previous year.

The 82.2 million pounds  comprised of a 49.3 million  pound core grant plus a further 32.9 million pounds for the Buckingham Palace reservicing, replacing old wiring, ­water pipes and boilers, some of which has not been done since the 1950s.

The figures out Tuesday showed the royals spent 23.2 million pounds on wages for the equivalent of 463 full-time staff.

They splashed 2.3 million pounds on official hospitality and housekeeping, including 1.7 million pounds on food and drink for around 160,000 guests.