Old Fashioned Oven Beef Stew

My mom always made this with a loaf of homemade bread to serve when company came. Perfect for those chilly autumn evenings...

1 1/2 lbs stew meat
2 cans tomato soup
2 soup cans of water
1 large onion, chopped
1/2 teaspoon thyme
4-6 medium potatoes, cubed
4 carrots, sliced
1/2 cup water
1 cup frozen peas

Dredge meat in flour with salt/pepper and brown in oil. Place in dutch oven with soup, soup cans of water, onion, and thyme. Cover and bake at 375 degrees for 1 hour. Add potatoes, carrots and 1/2 cup water. Return to oven and bake for another hour (or reduce heat to 225 and bake for 2-3 hours). Add frozen peas and finish baking for 15 minutes, until peas are done (if lower temperature is used, bake for up to another hour). Salt and pepper to taste.