In a large resealable plastic bag, combine flour and 1/4 teaspoon thyme. Add beef, a few pieces at a time, and shake to coat.
In a large skillet, brown meat in oil on all sides. Add the water, tomato sauce, broth, potato, onion, carrots, red pepper, soup mix, Worcestershire sauce, rosemary, garlic powder, pepper and remaining thyme.
Bring to a boil. Reduce heat; simmer, uncovered, for 45 minutes. Stir in peas. Return to a boil. Reduce heat; simmer 5-10 minutes longer.