I had the great fortune to watch this film the other day; it is a wonderful inversion of "The Hobbit", in that three rather hobbit-y film students (they must be Tooks...) chase after Hans, a real-life Gandalf and troll hunter. Hans eventually, grudgingly allows them into his world of Ringlefitches and Mountain Kings, as he tries to discover why the local trolls are leaving their territories and causing havoc.
It is a wonderful, enthralling film, and I highly recommend it. Please note: it is rated PG-13, more for general "scariness" than language or nudity, but I agree that it might be too intense for little hobbits.
If you get a chance to see this film, do so!
Link: Official Site