How old and where and what made from?

by J.L.Krusche
(the Shetland Islands,U.K)

I found this in our homes coal store in our garage. Tat was 12 years ago when we first moved in, so I presume it belonged to the previous owner.

Unable to identify the hallmark, a capital G and K with a small 5 pointed star (between) in the middle of them and a semi-circle under the bottom of the star.

Think its a gold, semi stretchy ladies watch bracelet and has a fitting for a watch face.The engraving is on the solid adjustable clasp.