33-year-old midfielder Philpott has only appeared twice this season, and so unsurprisingly will be released in the summer.
Forward Phil Jevons will return to Grimsby after his loan spell as revealed at the weekend, while youth team player Jamie Heard will not be kept on.
Northampton have enquired about keeping Lawrie Dudfield after his loan deal comes to a close. He is not thought to be part of Peter Taylor's first team plans, and the relegated side have been impressed by the 22-year-old.
Meanwhile, Nathan Peat has signed a new one-year deal with his present contract coming to an end, and Liam Cattermole, Tom Beattie, Tom Matthews and Ashley Allanson have signed scholarship forms.