With a bit of luck your application is in just before the summer (?) rush, so you should have it back reasonably quickly. As a rough guide, I put in for mine a year ago yesterday, and it took three weeks until I got that little brown book.
As Gertrude says, you can fly solo (and your club should now only charge you PPL rate, not training rate
), but until that little brown book is in your grubby mitts, you can't take pax.
Hope that helps, and well done!
BM