I love the idea of extending the life of bikes, therefore I like bike recycling projects. There are a number in Greater London.
If you are looking to buy or donate a bike for recycling you can use the project finder at http://www.re-cycle.org/Donate/Bike/Search
but not all projects are listed. If you're involved in a bike recycling project you should send details to that website.
Here's a list I made earlier, with links where there are websites:
Brixton: Cycooldelic Revolution
Ealing: Ealing Bike Hub
Kingston: Eco-op Bike Recycling
Waltham Forest: Bike Recycle
This post was edited by Jon Fray at 6:18pm 20 November 2012.