Thought to be Selected Originals from late 1940s material.
The Princesses go horse riding at Bonza Bay, near East London, Cape Province, South Africa.
CU Princess Elizabeth (later Queen Elizabeth II) and Princess Margaret, wearing wide brimmed sun hats and jodhpurs, mounting their horses MS riding through a copse to the beach. MS LS Cantering along the sand, near the sea's edge.
Possibly connected with 47/22 - MD