What crankset you running? More importantly what BB is this?
Have you checked the adjustment of the `adjustable' cup? If its loose you're going to get side to side movement potentially. If its a sealed unit and BB seems correctly installed, then your bearings are shot so its time for a new BB.
I love Phil stuff, but its over a 100 quid (with tools) for a Phil BB. They're lovely lovely things but you can find tons reasonable sealed BBs for a lot lot less. The only other real advantage of the Phil is that its got 5mm of adjustment so you can really dial in your chainline. Would expect Condor or Brixton cycles to have the tools which could save you some expense).
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