This is movie is based on a novel by Angela Carter made soon after the renown British author had collaborated with Neil Jordan on the cult horror/fantasy film "The Company of Wolves". This movie does not benefit from the directorial talent of someone like Neil Jordan, but it is still a pretty interesting film about a privileged adolescent girl who becomes orphaned and has to move with her younger siblings to the dreary London home of her tyrannical toy-maker/puppeteer uncle, his mute wife, and the wife's wild Irish brothers, one of whom she develops an attraction to.
Angela Carter basically writes fairy tales for adolescents, but not really fairy tales in the present-day sense. Today "fairy tales" are associated with Disney and Pixar and other saccharine kiddie films. You could also consider comic-book movies and "Star Wars" reboots to be "fairy tales" for older children and teens, Hollywood rom-coms as "fairy tales" for adult women, and perhaps even porno movies could be thought of as "fairy tales" for male adults. All of these are alike in that they're ALL really escapist fantasy. But Carter's fairy tales mine the older, more literary fairy tale tradition of the Grimm Brother or Hans Christian Anderson and have a darker, more disturbing and much less escapist tone to them (and certainly more literary gravitas). But Carter also adds an element of more overt coming-of-age female sexuality. The fifteen-year-old heroine here (played by a twenty-something Caroline Milmoe) is first seen admiring her own full-frontal nakedness in a full-length mirror before trying on her mother's wedding dress. Later when her uncle tries to turn into a living puppet in one of his bizarre puppet shows, he--perhaps not coincidentally--has her play "Leda" a wood nymph who in Greek mythology who is raped by the god Zeus in the form of a swan. And there is an intimation (made much more clear in the book) that he actually wants his young brother-in-law to deflower his orphaned niece in order to degrade her.
Not that this movie is in any way graphic or that it ever entirely leaves the realm of fairy tale and metaphor. There have been plenty of "adult" fairy tale movies (ACTUAL porn adaptations of things like Cinderella or Snow White) over the years, but that is not anything that has ever interested Carter. Her work is probably closest to the tradition of "magical realism" that is popular in certain kinds of literature, but is very difficult to translate into cinema. But even so, she brings a more adolescent, more female perspective that is uniquely all her own.
The main problem with this movie is it simply can't compare with the book (and it is certainly less successful in that respect than "Company of Wolves"), but I still think it compares pretty well to most movies.