Place the beef in a large, shallow dish and sprinkle it with the salt, pepper, and flour. Toss the beef with tongs to coat evenly.

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

Add the water to the pan to scrape up any browned bits.

Add the onion and garlic to the pan and cook for 1?2 minutes while stirring.

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

Add the carrots, 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 until the carrots and beef are tender.

In the last 15 minutes of cooking, add the peas and the cornflour mixture and stir through. Remove and discard the bay leaves and thyme sprigs if using.

Leave the slow-cooker lid off for the last 15 minutes to allow the mixture to thicken slightly. Season with extra salt and pepper to taste before serving.