They hope to cycle a combined 200 miles in a day and raise at least 1,000 split between the two causes.
Troops from the Yorkshire Regiment will also be on hand to talk about the regiment's work in Iraq and Afghanistan.
The event will take place in Queen Victoria Street from 9am until 6pm.
There are two new shops opening in Ilkley this week. Nora's Interiors and Gifts opens at the Victorian Arcade, in the town on Saturday at 10am, selling beautiful and unusual home accessories and garden items along with gifts, as well as a venue for floral arrangement demonstrations and workshops.
Owned and managed by daughter and mother team Victoria and Fiona Newhouse, the shop will also stock Mrs White's all natural, people, pet and planet friendly cleaning products.
Meanwhile, designer belt brand Opika – whose belts have been seen in Vogue and modelled by Kate Moss – opens a salon tomorrow, with a reception at Moor Cottage Studios in Burley Woodhead, Ilkley, from 6-8.30pm.
For information, contact: Sarah Clough on 01943 865516. Belts are also sold online on www.opika.co.uk.