Super cool women doing neat things on bikes

It's still VERY hard for most sports for women to go pro compared to men (tennis is one of the few sports where the balance is quite even) and cycling is no exception (female tour the France cancelled anyone?)

This might be true, but it still doesn't make it right for CTC to have anything to do with it. There is not some God given right for everybody to get equal treatment in professional sport, a branch of show business. It is a considerable stretch to see how funding a little side show is either good value for the marketing budget (simple test: if you can score advertising space at all in a space open to all the usual commercial competitors, you're probably over-paying, i.e. it's a vanity project) or a valid revenue spend in terms of the objects of the charity

(a) the relief of poverty by providing legal advice, assistance and representation to members of the public in relation to cycling.
(b) to advance the education of the public in the rights, liberties and duties of all citizens and public servants by publications, lectures or other similar forms of communication pr by commissioning research (and publishing the results of such research)
(c) to advance the education of the public in road safety and the safe use of bicycles including their maintenance.
(d) to advance the education of the public in non-polluting transport methods.
(e) to promote and encourage for the public benefit the development in the community of and the provision of safe routes, paths and facilities for cycling, walking and other forms of low energy transport.
(f) to promote healthful recreation, the conservation and protection of the environment, and the conservation of energy resources by promoting cycling as a means of transport.
(g) to provide facilities for recreation or other leisure time occupation.
(h) to preserve and protect the health and safety of the public by encouraging and facilitating safe cycling

I don't see anything there which makes it a core activity of the charity to step in to commercial markets in an attempt to distort them towards somebody's idea of a politically correct Utopia.