Looks 1930s to me, with a couple parts swaps perhaps. The seat post and frame pump look like later replacements based on these pictures. Rear forks look stamped rather than forged and brazed. The front is likely the same construction as the back. Looks like it has the simple, "P" cut out lamp bracket. The simple, straight cut lugs look consistent with 1930s as well. The hub may not be very helpful- looks like a single speed rather than an SA Three speed. So I agree with Fat Tire- prewar, probably 30s if I had to take a stab. Phillips is not my strong suit and we seem to have less information around about them than Hercules or Raleigh. But 1930s is my guess.
This design is still made in Indian, Pakistan, and China among other places. You may actually be able to use Indian parts as direct replacements.