The medal has been in our family as long as I remember, for a long time I thought it was my father's. Recent information I gathered shines doubt on that theory. The medals with the mystery medal add to the confusion.
One ribbon is for the 1939-45 star http://en.wikipedia.org/wiki/1939-1945_Star
On the other side is the ribbon for the 1939-45 War Medal
In the middle is the is the enigma. A ribbon with a Red centre surrounded by White bands with a thin Black stripe.
The mystery is the medals appear to be for service in the Navy during WW2. My father only served a few months in India before the war ended. He was in Fighter Command in Northern India (RAF Pune').