The electronic configuration of Nitrogen is: 1s22s22p3.
Therefore, PCl5 can be formed but not NCl5 due to the unavailability of 2d orbital.
The atomic number of Phosphorous is 15,it means it contains 15 electrons in total .The distribution of these electrons is 1s2,2s2p6,3s2p3.During reaction with other elements it tries to gain the structure of next inert gas i e Argon by sharing three electrons with Hydrogen.Thus PH3 is formed by covalent bonding between P and H.But PH5 can not be formed as firstly five unpaired electrons are not available in phosphorous to share with hydrogen.That is why PH5 does not exist.