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I am sorry to hear about this. You should be raising your concerns in writing (and this should be an item on agenda) during your board meeting.
If you take no action - you are implicating yourself, professionally, and possibly criminally as well, under the Companies Act and Insolvency Act.
Feel free to come back with any follow up questions. I will help to the extent I can.
As long as the resignation as a director was effective immediately, you should update Companies House asap.