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Heat the oil in a non-stick pan, then fry the onion, carrot and bay, stirring frequently, until the onion is golden. Stir in the flour, then pour in the stock while stirring. Simmer for 15 mins. Discard the bay leaf, then purée the contents of the pan with a hand blender until completely smooth. Cool, then chill. Can be made 2 days ahead.
When you take the turkey from the oven (see 'goes well with', right), pour the juices from the tin into a deep but narrow jug or bowl. Leave to stand so that excess oil from the turkey rises to the top. Skim off as much fat as you can and discard, then pour the juices into a pan with the gravy base and stir over the heat until bubbling. Season to taste.