It's quite possible that the rifle was a private purchase. Most/many of the original intake of Imperial Yeomany were the idle rich looking for adventure. They were largely privately supplied.
I have an 1899/1900 manufactured Colt New Service marked to an individual of Paget's Horse, which was an Imperial Yeomanry unit (supposedly at some point) attached to the Bengal Lancers during the Boer War.
Rather more info is available on Paget's Horse now than the last time I searched.
Paget’s Horse in the Boer War | Military Sun Helmets
More specific to the OP's QOYDIY:
https://en.wikipedia.org/wiki/Queen&...shire_Dragoons
Queen Archives
Queen's Own Yorkshire Yeomanry Museum