Difficult to say if this is ‘British or German’ made.
An aluminium formed horse shoe, topped off with the fuse end of a 1916 German artillery shell, manufactured in Magdeburg.
Substantial piece of workmanship, suggesting its a ‘heavy workshop’ made item.
(It should always be remembered, that much trench art was immediate post war, cottage industry made, for battlefield tourists. Crude and heavy duty items suggest, troop made, war time items…….not however, a definitive rule of thumb).