1. Pat the beef dry and cut it into even chunks. Season it with salt and black pepper.

2. Heat the olive oil in a Dutch oven over medium high heat. Brown the beef in batches on all sides, then transfer it to a plate.

3. Reduce the heat to medium and add the onion and celery. Cook until softened, then stir in the garlic and tomato paste.

4. Sprinkle in the flour and stir well. Slowly pour in the beef broth while scraping up the browned bits from the bottom of the pot.

5. Stir in the Worcestershire sauce, bay leaves, thyme, and the browned beef with any juices.

6. Bring the stew to a gentle simmer, cover, and cook over low heat or in a 325°F oven for 1 hour 15 minutes.

7. Add the carrots and potatoes, then continue cooking for 45 minutes to 1 hour, until the beef is tender and the vegetables are soft.

8. Stir in the peas during the last 5 minutes of cooking. Remove the bay leaves.

9. Taste and adjust seasoning if needed, then finish with fresh parsley and serve warm.