This recipe is best when made one day before serving. Cut pound cake into thirds lengthwise. Beat cream cheese and powdered sugar together until light and fluffy, using an electric mixer. Heat fudge sauce in microwave on HIGH for 30 seconds or until smooth and spreadable. Place cranberry sauce in a small bowl and beat with a fork until smooth. Spread a generous 1/3 cup cream cheese on the bottom piece of pound cake. Next spread 1/4 cup fudge sauce. Sprinkle with 1/4 cup toffee bits. Gently spread with 1/3 cup cranberry sauce. Set aside. Spread middle piece with remaining cream cheese followed by 1/4 cup fudge sauce. Sprinkle with 1/4 cup toffee bits. Gently spread with 1/3 cup cranberry sauce. Place on top of bottom layer. Place top piece of pound cake on top of layers. Wrap cake in foil and refrigerate overnight. When ready to serve, cut into slices. Serve with whipped cream or ice cream, if desired. Makes 7 servings. Per Serving: Cal. 423, Fat Cal. 198, Pro. 5.6g, Carb. 51.6g (17%DV), Fat 22.0g (34%DV), Chol. 128.0mg (43% DV), Sod. 357.6mg (15% DV), Vit. A 13% DV, Vit. C 0% DV, Calcium 6% DV, Iron 7% DV