Let the amount of soccer players last year be $x$, the number of male players last year to be $m$, and the number of females players last year to be $f.$ We want to find $\frac{1.2f}{1.1x},$ since that's the fraction of female players now. From the problem, we are given
$$x=m+f$$
$$1.1x=1.05m+1.2f.$$
Eliminating $m$ and solving for $\frac{1.2f}{1.1x}$ gives us our answer of $\boxed{\textbf{(B) } \frac {4}{11}}.$