Put the carrots, garlic, thyme and onion in a medium roasting tin and drizzle over 1 tablespoon of the oil. Coat the beef with the remaining oil and season generously with salt and pepper. Place the beef on top of the vegetables.
Place in the oven and roast for 20 minutes. Reduce the oven temperature to 170 C / 150 C fan / Gas 3 and roast for a further 50 minutes for medium rare or 1 hour 10 minutes for well done.
When the beef is ready, remove it from the oven and place on a carving board. Cover loosely with foil and allow it to rest for 15 to 20 minutes.
Remove any bits of vegetable from the roasting tin that look over-caramelised. Place the roasting tray on the hob over a medium heat and mash the vegetables using a potato masher. Pour in the wine and simmer for 3 minutes. Add the water and simmer for a further 2 minutes, then pour the mixture through a sieve.
Slice the beef and serve with the red wine gravy.
Set aside the leftover meat until cool. Wrap in foil or place in a lidded airtight plastic box and store in the fridge. Use within 2 days.