London, 1911 - Penelope Hart is a teenage runaway, down on her luck she decides to steal a pocket watch. Soon she has become entangled with the Harker Institute of Super-Natural Studies, which is dedicated to researching (and then using) the magical. Unfortunately for Penny, the Institute's past is about to come back to haunt them.
A long running historical fantasy webcomic, Penny Dreadful can be found here
Not to be confused with the Showtime series of the same name, though it is set in London much like the webcomic.