Phillips Lightweight. Can you help identify model?

velocitizen
velocitizen Posts: 327
edited November 2007 in Road general
I have just acquired this Phillips Lightweight single-speed.
http://www.flickr.com/photos/velocitizen/1989658956/
Would apreciate any help identifying the model, and any history of the brand.
It has a lightweight sticker and what i assume is 531, although the sticker is covered in Gaffer tape.
Unfortunately it has a bent seatstay, as well as dodgy forks, pedal and is a bit of a sorry state....It does ride though.
I am thinking commuter bike, or even a fixie project, does it deserve more than that?
Any thoughts welcome.
BeestonCC Sportive
Sunday 24th June 2012
Enjoy the finest cycling in the Peak District.
47, 75 and 111 mile routes.
http://www.beestonccsportive.co.uk/

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