Begin by cutting potatoes into chunks and boiling for approximately 30 minutes, or until tender.
In a large sauce pan, saute onion and ground beef until brown, seasoning with bay leaves, worcestershire, and salt and pepper. Once the beef is done cooking, spread across the bottom of a large baking dish. Pour both cans of peas and carrots evenly across the beef.
Once potatoes have become tender, drain and mash them, stirring in margarine and salt and pepper if desired. Spoon the potatoes onto the peas and carrots, spreading evenly. Top with grated cheese and bake at 350 degrees for 25-30 minute.