Wendy Filters are the closest you're going to get to Parental Controls at the moment, I'm afraid.

I would suggest that anything with content that is inappropriate for your children could be removed from the player if your children are going to be around your player.

The only other option is to accept the fact that your children are going to hear profanity eventually, and you could take the opportunity to teach them how to deal with it appropriately, the way you think they should.