I think offering to carry forward the entry to next year, subject to being able to help out, is a great idea - it feels fair, and helps the sustainability of the event.
The phrasing quoted currently reads more like a guaranteed place though, and parallels with other sorts of events that allow transfers (Ride London and the London Marathon, for a start) probably mean that if I read it, I'd expect to pay for next year as well as losing this year's fee. Nothing that a couple of extra words wouldn't sort, of course ...
As for not transferring entries to others, that's a general AUK rule and applies to every event. As I said up there somewhere^^^, it's on the entry form, and made more explicit on the page I linked to and catswiskas has quoted.
If you feel this isn't clear enough, AUK can certainly look again at the wording.