New Forest mare and foal

Sir Alfred James Munnings, P.R.A., R.W.S. (1878-1959) New Forest mare and foal signed and inscribed 'New Forest/ This is an ... mare & foal/ Foal fm New Forest Pony/ Alfred Munnings' (lower right) and further inscribed 'New Forest Mare & Foal/ Near Christchurch/ Hants' (on the reverse) watercolour on the page of a sketchbook 10 x 13 ¾ in. (25.4 x 35 cm.)