Hi Jon,
Yes I think you are correct with William & Isabella as her parents. Jane is shown on her marriage cert as Age 20 but presumably just means over 20 as she was in fact aged 25. I have found further details as follows;
William Pearson married Isabella Arnold 10-3-1832 St Mary, Newington, Surrey,Southwark (London England, Church of England Marriages & Banns, 1754-1921).
Child Eliza born 19-12-1832, baptised 19-5-1833 St Mary Magdalene Bermondsey Southwark, same parents names and father's occupation Leather Finisher. (London England, Church of England Birth & Baptisms 1813-1906)
Family must have moved to Newcastle shortly after as Jane's baptism was 1835 as you have identified already--(Jane Dau: of - William & Isabella - Pearson - Gallowgate - Leather Dresser - J. Ilderton [BT, Newcastle St. Andrew, 19 Apr 1835])
Mary Ann born 28-2-1837, baptised 7-6-1837 St Mary Magdalene Bermondsey Southwark. Same parent names. Father Leather Dresser. (London England, Church of England Birth & Baptisms 1813-1906)
William born 1839 approx. Newcastle.
I couldn't find family in 1841 Census in Newcastle but they appear on the Census for Surrey, St George The Martry, Kent Rd.
William age 30 'Leather Dresser', Isabella age 30, Eliza 8, Jane 6, Mary Ann 4 & William 3
1851 Census family back in Newcastle this time in Westgate. William's occ 'Leather Draper (Dresser)'. All children the same except Mary Ann not shown. I believe I found her in the household of John & Rachel Walton in Westgate where she was living as a servant. A slight variance in age though at 16 rather than 14 but born London so appears in order.
1861 Census Westgate found William Pearson age 48 'Leather Draper' (Dresser) born Bermondsey Surrey but wife shown as Margaret age 37 born Newcastle. Isabella must have died and he has remarried.
Cheers
Ian