I've had a LED Lenser P5E for a while, and its fine for a single AA torch. I bought mine from Cotswolds on a Flash sale some time ago, but they've got it still at the same price of £17 -
http://www.cotswoldoutdoor.com/led-lenser-p5e-professional-aa-torch-e4124135?id_colour=124
In a perfect world I'd have something like a Fenix LD22, but since I can't afford one at the moment, I bought a Romisen RC-P13
http://www.dx.com/p/romisen-rc-p13-...ght-w-strap-black-3-x-aaa-324807#.WBsGnPqLRPY from DX the other day. AAA batteries, and an R5 emitter - for £8.06 great value. That brand has been very good value over the years, with the various ones I've bought generally lasting very well for the price. Unfortunately, DX seems to be stocking fewer of them, and they tend to use batteries other than AA/AAA (the little RC-G2 was cracking, but now really not available).
On my wants list is the Olight I3E - the black ones are a tenner, and give out 90 lumens on a single AAA, whilst the silver ones are rated at 120 lumens, but are about £14.
http://www.torchdirect.co.uk/olight-torches/olight-i3e-eos-led-torch.html . More a keyring torch, but handy. And I notice torches direct has the Tank 007 - a brand which was often well reviewed on DX back in the day.
So you can do fine for less than a tenner via DX, or less than £20 for brands like LED Lenser. £30-45 means you can do very well. Lots of choice at the higher price range here:
http://www.torchdirect.co.uk/