Sardu, master of the Theatre of the Macabre, and his assistant Ralphus run a show in which, under the guise of 'magic', they torture and murder people in front of their audience. But what the punters see as a trick is actually real.

The actors for a horror movie go out to dinner one evening with their director and tell horror stories to each other.

After a catatonic episode on a railway station platform, Jacob Horner is taken to "The Farm"...