The reason why the speed limits apply to cars and not bikes, is that is was inconceivable, when the laws were originally drafted, that cyclists could exceed the speed limits. The point was therefore moot, i very much doubt there was a concious decision, based on the kinetic energy difference, to excuse bikes from the limit. As more and more areas get 20mph limits the point becomes no longer moot as cycles will sometimes be the fastest vehicles and present a significant hazard to more vulnerable road users - it makes little difference to a small child whether they are hit by a bike at 25 miles an hour or a car at 25 miles an hour.