1. Pat the beef dry with paper towels and season it with the salt and black pepper.

2. Heat the olive oil in a large Dutch oven or heavy pot over medium-high heat. Brown the beef in batches so it develops a deep golden crust, then transfer it to a plate.

3. Add the onion, carrots, and celery to the same pot. Cook for 5 to 6 minutes until they begin to soften.

4. Stir in the garlic and tomato paste, then cook for 1 minute until fragrant.

5. Sprinkle the flour over the vegetables and stir well to coat everything evenly.

6. Pour in a small splash of the beef broth and scrape up the browned bits from the bottom of the pot.

7. Return the beef to the pot and add the remaining beef broth, Worcestershire sauce, thyme, and bay leaf. Stir well.

8. Bring the stew to a gentle simmer, then reduce the heat to low and partially cover the pot. Simmer for 1 hour, stirring occasionally.

9. Add the potatoes and continue simmering for 30 to 40 minutes, or until the beef is tender and the potatoes are cooked through.

10. Stir in the peas during the last 5 minutes of cooking.

11. Remove the bay leaf, taste and adjust seasoning if needed, then stir in the chopped parsley.

12. Serve hot.