Well, I agree the paint on your bike is pretty appalling. But it's original, and the original decals are pretty well preserved, all things considered. I have an Armstrong (Moth?) of the same era, exactly the same lugs etc, and it has NO decals preserved. Nothing. Very disappointing. I have a Fothergill from the 30's or 40's, and it, too, came to me with NO decals, just two coats of non-original paint. On the latter I had to reconstruct the decals from the rust stains on the frame tubes after I sanded all the paint off!

If you're willing, let's see some more photos of the remaining Phillips Phantom decals, both sides of the down tube, and the seat tube as well. I have a strong suspicion there's enough preserved that you can draw them accurately. Even if you can't draw them with 100% accuracy, you are in a better position to draw them than anyone else is, at the moment --at least until we find a better Phillips Phantom.