This ring was made in Birmingham in 1913 and is gorgeously engraved "To John Milne for Kind Services Rendered to the Smith Family 1914". There's a record of John Milne, a private in the British army (13th Battalion, Royal Scots) who died in 1915 during the Great War. 
He was married to Mary Smith Milne of Glasgow. Could this ring have belonged to him? Beautiful bloodstone intaglio.