This family look possible in 1851, Liverpool, 10 Dryden St.
Jane Smith 65, widow, Lodging house keeper, born Castletown
James, son 25, single, Blacksmith, born Douglas
Edward, son, 23, single, Tailor, born Douglas
John, son, 20, single, born Douglas
The ages don't quite match, but your Edward is the only one christened in Douglas on the IGI at that time.
Susan