In this state one won’t have got ready (10)

I believe the answer is:

insolvency

'in this state one won't have got ready' is the definition.
'insolvency' can be an answer for 'state' (insolvency is a kind of state). I'm not certain of the remainder of the definition.

'in this state' is the wordplay.
'this state' becomes 'solvency' (solvency is a kind of state).
'in'+'solvency'='INSOLVENCY'

(Another definition for insolvency that I've seen is " Lack of funds".)

I've seen this clue in The Times.

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