It is known that the maximally entangled qubit states form a basis (the Bell basis). Let $\Phi$ be the canonical maximally entangled state i.e.
$$\Phi = \left(\frac{\vert 00\rangle + \vert 11\rangle}{\sqrt{2}}\right)\left(\frac{\langle 00\vert + \langle 11\vert}{\sqrt{2}}\right)$$
Let $\Phi^\perp = \mathbb{1} - \Phi$, where $\mathbb{1}$ is the maximally mixed state on two qubits.
Let $P_{k}^{n}\left(\Phi, \Phi^{\perp}\right)$ denotes the summation of $n$-fold tensor products of $\Phi$ and $\Phi^{\perp}$ with exactly $k$ factors of $\Phi$. For example, $P_{1}^{3}\left(\Phi, \Phi^{\perp}\right)=\Phi^{\perp} \otimes \Phi^{\perp} \otimes \Phi+\Phi^{\perp} \otimes \Phi \otimes \Phi^{\perp}+\Phi \otimes \Phi^{\perp} \otimes \Phi^{\perp}$.
Do the terms $P_{k}^{n}\left(\Phi, \Phi^{\perp}\right)$ where $1\leq k\leq n$ form a basis for states that are invariant under permutation of the $n$ registers? That is, can any permutation invariant state of dimension $4^n$ be uniquely written as
$$\Psi = \sum_k c_k P^n_k(\Phi, \Phi^\perp)$$
If yes, how do I see why this is the case?
EDIT: Corrected dimension based on answer