Old archdeacon given money prepared in advance (4-5)
I believe the answer is:
oven-ready
'prepared in advance' is the definition.
The definition suggests an adjective which matches the answer.
'old archdeacon given money' is the wordplay.
'old' becomes 'o' (abbreviation as in OT - Old Testament).
'archdeacon' becomes 'ven' (abbreviation for The Venerable).
'given' is a charade indicator (letters next to each other).
'money' becomes 'ready' (ready can informally mean cash).
'o'+'ven'+'ready'='OVEN-READY'
Can you help me to learn more?
(Other definitions for oven-ready that I've seen before include "Already prepared for cooking (of chickens)" , "Pre-cooked" .)