Its a very simple LED torch using very easily available components.
This torch costs you about 0.6$ and lasts for 50 hrs(approx).

components required are:
1).Hinged lockable plastic box.
2).Simple Switch
3).9 volt Battery
4).100 ohms resistor
5).8mm LEDs(we need a couple of them).........any type of LED can be used but carefully select the resistance value.
6).soldering equipment.

Step 1: One and Only One Step!

Make suitable dents in the box such that we can fit the switch and the two LEDs.

{longer arm of LED is + and shorter one is -}
connect longer arm of LED to + terminal of 9-V battery.
solder - of 1st and + of 2nd LEDs.(connecting them in series)
solder - of 2nd LED and 100 ohm Resistor.
R's other end to switch and Other end of switch to - of Battery.

THATS it our LED torch is finish....and ready to use.

Well performance of torch may be increased by using mirrors to direct the light.