No, if you dropped it then it is not faulty and the cooling off period does not apply. As you would have to return the phone in the state it was delivered to you.
I'm afraid it will be an insurance claim or paid for repair.
Current Phone: Sony XPeria Pro-I and Motorola Razr 5G I also have a Planet Computers Gemini
I work in IT as an Enterprise Messaging and Collaboration Tools Administrator (Office 365, Slack and much much more) and manage hardware both Mobile and Desktop / laptop, my desk is a bit like PC World
-- We are all customers and dont have access to any o2 accounts