I am looking for a way to accurately workout how many calories I am burning on my bike. I have a standard bike mounted on a cycle exercising stand. At the moment, I have no way of working out anything. I only have a heart rate monitor.
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There's a VERY accurate approach, but it requires being in a lab and having equipment hooked up to you.
Another approach is using a calories burnt calculator. (If you look up calorie burned calculator you'll find dozens - they should be based on type of exercise, your weight and the exercise duration).
Some points to keep in mind:
If you spend a few min's performing one of the general fitness assessments, to obtain your approximate VO2max volume, then your heart rate and activity duration should offer enough data to calculate a fairly accurate value, see: Is it possible to measure calorie burn from heart rate alone?