although I do know that the Company has it written down that the directors are only liable to pay £1 if the company were to fold
That wouldn't give you any protection.
If you are a formal Director then you do have to be careful because you can be held personally liable for the actions of other Directors - even if you have no influence over them or even know of their actions.
As a Company Secretary
only you should not be liable for anything of great significance - provided the accounts etc are filed on time, etc.
In 1978 I was offered a directorship by two crooks who had got me to do some electronics design work for them but they never had the money to pay me. Me being just 21 I thought this was a gift from heaven - I mean how many 21 year olds have a seat on the Board of a Company
This led to many very fraught experiences. but being young and stupid (and loyal) I stuck in there for 13 years, until they finally kicked me out because I wanted to put a stop to some excessive and uncontrolled overseas spending.
One should never be a Director of a company where one has little or no control of what goes on. If one sees stuff going on which could sink the business (leaving debts around, etc) then one has to resort to writing memos (to create a written record) to the others, which is obviously plain stupid when you could just discuss it face to face.