Full HD or HD Ready 1080p means that the television is able to handle a High Definition signal of 1080 lines of information across the screen, and may mean that there is a HD tuner, such as Freeview HD or Freesat HD, built in to receive HD channels without having to add an extra box.
HD Ready means that the television is able to handle a High Definition signal. It produces 720 lines of information across the screen which is not Full HD. It does not have a High Definition tuner built in, so the HD services would come from an external source such as Sky, Virgin or a recorder with HD built in.