The most common and most likely answer to this crossword clue is the 7 letter word READIED
I've seen this crossword clue in The Guardian
R
E
A
D
I
E
D
More clues leading to the result READIED
Buddy explains!

The straight part
We know that "prepared" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case prepared = readied.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does READIED mean?
READIED verb- To prepare; to make ready for action.