Place the beef in a large, shallow dish and sprinkle it with the salt, pepper, and flour. Use tongs to toss the beef so that it is evenly coated in the flour mixture.

Heat half the olive oil in a large, heavy-based frying pan over medium–high heat. Cook the beef in batches, adding more olive oil as needed, for 2–3 minutes per batch, or until browned. Set aside on a plate.

Add the water to the pan and scrape up any browned bits from the base.

Add the onion and garlic, then cook, stirring, for 1–2 minutes.

Transfer the beef, onion, and garlic to the slow-cooker.

Add the carrot, tomato paste, Worcestershire sauce, beef stock, thyme, and bay leaves. Stir to combine. Cook on high for 3–4 hours or on low for 7–8 hours, or until the carrots and beef are tender.

In the last 15 minutes of cooking, add the peas and cornflour mixture and stir them through. Remove and discard the bay leaves and thyme sprigs, if using. Leave the slow-cooker lid off for the last 15 minutes to thicken the mixture slightly.

Season to taste with extra salt and pepper. Serve with mashed potatoes and a sprinkle of thyme leaves, if desired.