It is strange to start research on a medieval record with 24 alphabet. Ordinary it is 23 for omission of J, U, and W. But the inscription contains the letter W. So we save the letter W in our alphabet.

 Then where should we place W in our alphabet? Around 700 years ago, W was the new letter which had taken the place of runic "wynn". Being called double-u, and having figure like VV, it should be the successor to V as today. So we use

 

     ABCDEFGHIKLMNOPQRSTVWXYZ.

 

I could not find any arrangement consists of these 24 letters among the records around 700 years ago. My only sample is a much later list, which has appeared in the famous work on the biliteral cipher by Francis Bacon (the King James Ｉ era). Its arrangement is same as ours.

 Regarding "Yhoshvah ha-Mashiah" (17 letters and 1 hyphen) as shift degrees of 18  letters (hyphen gives no shift), we transform

 

    NDXOXGHWDRGHDXORVI

 

into

 

    LLLGEBHDLRGTDPWAVQ.