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For the beef, mix the garlic, thyme and olive oil with some black pepper. Rub over the beef and leave for at least 1 hr, the longer the better. Heat oven to 200C/180C fan/gas 6, season the beef with salt and place in a roasting tin. Roast in the oven for 30 mins, then turn the heat down to 180C/160C fan/gas 4 and cook for 10-15 mins per 450g depending on how you like your meat – 10 mins per 450g will give you rare meat and 15 mins will give you meat that is cooked through.
When the beef is cooked, take it out of the roasting tin and allow it to rest somewhere warm, loosely wrapped in foil, for 30 mins. Pour off and reserve any resting juices.
To make the gravy, place the roasting tin on a high heat with the garlic, bay and thyme. Splash in the Port, scrape with a wooden spoon to loosen any debris from the tin and bubble until almost completely reduced. Pour in the red wine and reduce by three-quarters before adding the stock. Bring to the boil and season to taste. Pour reserved resting juices back into the tin. Finally, pour the gravy through a sieve into a warm jug. Carve the meat and serve with the gravy.