Here is a radical before and after.
Didn't quite think it was worth saving....
But I tried.
Before:

Another:

Doesn't look promising.
But this morning this is how it looks now. The Afters:



Nothing replaced except the original saddle temporarily.
Just had a good clean and anti-rust treatment and paint.

I think it is now a stylish period machine and ready for another 50 years.
Has 3 speed AW hub dated 1955.
Front dyno similarly dated and the lights work perfectly.
Reversed North Road bars which look so cool to me.
Has some chrome problems on the bars and calipers but they can both easily be replaced if necessary.
No patina, but you can see why it needed painting!

This Phillips is pre the Raleigh takeover and must be much scarcer than the equivalent Raleighs of the time.