Letterboxing is an outdoor hobby that combines elements of orienteering, art, and puzzle solving. Letterboxers hide small, weatherproof boxes in publicly-accessible places (like parks) and distribute clues to finding the box in printed catalogs, on one of several web sites, or by word of mouth. Individual letterboxes usually contain a notebook and a rubber stamp. Finders make an imprint of the letterbox's stamp, either on their personal notebook or on a postcard, and leave an impression of their personal stamp on the letterbox's "visitors' book" or "logbook" as proof of having found the box and letting subsequent letterboxers see who have visited. Many letterboxers keep careful track of their "find count".Wikipedia
The origin of letterboxing can be traced to Dartmoor, Devon, England in 1854. William Crossing in his Guide to Dartmoor states that a well known Dartmoor guide (James Perrott) placed a bottle for visitors' cards at Cranmere Pool on the northern moor in 1854. From this hikers on the moors began to leave a letter or postcard inside a box along the trail (sometimes addressed to themselves, sometimes a friend or relative);hence the name "letterboxing". The next person to discover the site would collect the postcards and post them. In 1938 a plaque and letterbox in Crossing's memory were placed at Duck's Pool on Southern Dartmoor.
Wikipedia
To find the cache you need to start at the listed coordinates.
There is a series of photographs which are clues to lead you to your prize. It is only a short walk of about 300m.
Once you get to the final photograph you need to place your GPSr on the wall above the grafitti tag.
You then need to project a waypoint at 20 degrees TRUE for a distance of 10 metres to find the cache.
Happy Hunting.