1. Pat the beef dry, then toss it with the salt, black pepper, and flour until lightly coated.

2. Heat the olive oil in a large Dutch oven or heavy pot over medium-high heat.

3. Brown the beef in batches, making sure not to overcrowd the pot, then transfer the browned beef to a plate.

4. Add the onion and celery to the same pot and cook for 4 to 5 minutes until softened.

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

6. Pour in the beef broth and Worcestershire sauce, scraping up any browned bits from the bottom of the pot.

7. Return the beef to the pot and add the bay leaf and dried thyme.

8. Bring the stew to a gentle simmer, cover, and cook on low for 1 hour 15 minutes.

9. Add the carrots and potatoes, then continue simmering uncovered for 30 to 40 minutes until the vegetables are tender and the beef is very soft.

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

11. Remove the bay leaf, taste, and adjust seasoning if needed.

12. Sprinkle with fresh parsley and serve hot.